Bitcoin price dropped below $83,000, setting a new month-to-date low as geopolitical tensions over the Strait of Hormuz pushed Brent crude oil to $102 per barrel and WTI crude to $91. US bond yields reached 24-year highs, with 10-year and 30-year yields at 5.36% and 5.73% respectively. Bitcoin Open Interest declined by nearly 10%, from approximately $28.8 billion to $26 billion, indicating weakening demand on both spot and derivatives markets. The support level at Bitcoin’s 21-day simple moving average ($83,850) was invalidated during this decline.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
