Bitcoin Weekly Outlook: Yields Continue to Pressure BTC/USD Downwards
The bitcoin price retraced from its upside weekend session against the prospect of an ongoing rise in US borrowing costs.
Related News
Bitcoin opens the new week in a negative area, with traders still assessing its short-term market bias against a basket of macro fundamentals.
Bitcoin fell wildly last week as the US dollar capitalized on rising Treasury bond yields.
Bitcoin prices extended losses on Friday as the US dollar gained alongside the long-term Treasury yields. Downside pressure on cryptocurrency remains amid expectations of modest job growth in the US. The technical support offered by the 20-period moving average on the four-hour chart maintains Bitcoin’s medium-term bullish outlook. Bitcoin dropped Friday, suggesting that the benchmark […]
Bitcoin fell more than 0.5 percent on Monday after a rebound in US Treasury yields, and the US dollar index manipulated traders' short-term appetite for the cryptocurrency.
Bitcoin has been struggling to break above the mid-to-upper $19,000 region throughout the past few days and weeks, with the selling pressure here being significant Until bulls can shatter the resistance region that begins at $19,400, it may continue seeing a prolonged consolidation phase The cryptocurrency’s latest weekly close, however, was incredibly bullish and happened to mark the highest one ever posted by the crypto on many exchanges This could boost its mid-term outlook, but […]