#Bitcoin Under Pressure, Falls#
Hot Topic Overview
Overview
Bitcoin has been under pressure recently, with the main reason being the overall decline in risk assets, the rise in the US dollar index and US Treasury yields. The strong non-farm payrolls report led to market expectations that the Fed may raise interest rates, weakening rate cut expectations and in turn putting pressure on risk assets such as bitcoin. In addition, some investment banks believe that the Fed's rate cut cycle has ended, further fueling market concerns. Bitcoin is currently at risk of losing key support levels, with some observers expecting the price to drop to $70,000 before rebounding.
Ace Hot Topic Analysis
Analysis
Bitcoin has been under pressure recently, mainly due to the overall decline in risk assets, the rise in the US dollar index, and the increase in US Treasury yields. The strong non-farm payroll report led to market expectations that the Fed's rate cut cycle is over and may even raise rates, which caused investors to sell risk assets, including Bitcoin. Additionally, the 30-day moving average of the Coinbase-Binance BTC price difference has fallen to its lowest level since at least 2019, suggesting weakening domestic demand in the US. Currently, Bitcoin faces the risk of losing a key support zone, with some analysts suggesting a potential drop to $70,000 followed by a subsequent rebound. Meanwhile, AI agent tokens have also experienced a deep correction, with AI16z USD dropping more than 60% from its all-time high.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin faces the risk of losing a key support zone as traders sell risk assets, while the US Dollar Index and US Treasury yields rise.
Some investment banks believe the Fed's rate cut cycle is over, and Bank of America hinted at possible rate hikes, adding to the downward pressure on Bitcoin.
The consensus is that Bitcoin prices will drop to $70,000 before rising again.
The 30-day moving average of the Coinbase-Binance BTC price difference has fallen to its lowest level since at least 2019, suggesting weakening domestic demand in the US.