Bitcoin Weekly Outlook: T-Bonds Threaten Crucial BTC/USD Support

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Key Bitcoin Takeaways: Bitcoin fell wildly last week as the US dollar capitalized on rising Treasury bond yields. Nonetheless, dip-buying sentiment near a technical support level kept the cryptocurrency’s bullish bias intact. A further rise in yields could have bears test the support area for a breakdown. The BTC/USD exchange rate logged a sharp rebound and erased a major portion of its previous week’s losses on Monday. It was able to close the Sunday session above $45,000, a level that falls inside the support area that has capped Bitcoin’s bearish attempts from turning a full-fledged sell-offs. Nevertheless, the cryptocurrency fell by up to 26.30 percent after settling its record high above $58,000 on February 21. There was a clear indication of profit-taking across all the riskier markets, including technology stocks. The carry trades themselves came in the wake of a late-week US dollar rally, buoyed by a dramatic rise in…

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