Higher yields push bitcoin below $19K

Source: www.tradingview.com
The 10-year real rate is appreciating. As a result, its stochastic has moved above 80 (red arrow), and the yield is in its bullish channel (top candlestick). In response, BTCUSD (bottom candlestick chart) shows signs of decline and has dropped into its bearish channel between the lower blue and red bands.
As a result, the cryptocurrency is under pressure and is trading below $19K. As long as inflation remains a worry and the prospect for higher rates persist, demand for risky assets, including cryptocurrencies, will be facing headwinds.
Russell Shor
Senior Market Specialist
Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.
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