[vc_row full_width=”stretch_row” css=”.vc_custom_1531732107238{background-color: #fcc118 !important;}”][vc_column]

[/vc_column][/vc_row][vc_row css=”.vc_custom_1531730959461{border-bottom-width: 1px !important;background-color: #f9fafb !important;border-bottom-color: #eef3f7 !important;border-bottom-style: solid !important;}”][vc_column css=”.vc_custom_1531891416301{margin-bottom: 0px !important;}”][bsfp-cryptocurrency style=”widget-6″ align=”auto” columns=”2″ scheme=”light” coins=”top-x-coins” coins-count=”8″ coins-selected=”” currency=”USD” title=”Cryptocurrencies” show_title=”0″ icon=”” heading_color=”” heading_style=”default” bs-show-desktop=”1″ bs-show-tablet=”1″ bs-show-phone=”1″ css=”.vc_custom_1531730265600{margin-bottom: 0px !important;}” custom-css-class=”” custom-id=””][/vc_column][/vc_row]

Resilient Bitcoin defies interest rate pressures and technical resistance

0

Quick Take

In a striking reversal from the start of the week, CryptoSlate reports a resurgence of Bitcoin, which was grappling beneath key technical levels but has since ascended above them.

This recovery is significant, given the substantial resistance observed near $28,000, a level influenced by the 200-week, 200-day, and 111-day moving averages and the short-term holder’s realized price.

Technical Pricing Model: (Source: Glassnode)

The rebound is even more noteworthy considering the imminent 5% benchmark of the US10Y, a critical yield that sets the global interest rate benchmark. This key indicator is gearing up to hit levels unseen since before the 2007 financial crisis, entailing a tightening economic environment and adding pressure on risk assets like Bitcoin.

US10Y and US02Y: (Source: Trading View)
US10Y and US02Y: (Source: Trading View)

Amplifying these developments is the US02Y yield, which has cleared the 2006 peak at 5.253% and recorded its highest level since 2000.

The post Resilient Bitcoin defies interest rate pressures and technical resistance appeared first on CryptoSlate.

Leave A Reply

Your email address will not be published.