Битцоин (BTC) continued its downturn into Wednesday’s Wall Street open with its first test of $44,000 since the start of April.
BTC’s price posts near two-week lows
Подаци из Цоинтелеграпх Маркетс Про ТрадингВиев showed BTC/USD reaching 12-day lows of $43,801 on Bitstamp, down over 7% from the month’s high.
The move defied positive triggers in the form of fresh buy-ins from MicroStrategy and Terra, but analysts were instead eyeing macro factors as the next potential BTC price booster.
Jeroen Blokland, a portfolio manager at asset manager Robeco, said that the United States 10-year treasury yield, on an uptrend throughout the year, should reverse direction and provide some respite for risk assets.
“We are not there yet,” he nonetheless опоменут на дан.
US 10y yields jump to 2.56% thx largely to Brainard’s hawkish remarks, which raised fears ahead of FOMC minutes on Wed. pic.twitter.com/SpvFPKeFIB
- Холгер Зсцхаепитз (@Сцхулденсуехнер) Април КСНУМКС, КСНУМКС
In a potential countermove, the U.S. Federal Reserve has revealed that May should bring the start of “aggressive” balance sheet reduction, this marking an end to “easy money” policy, which many had бојао would pressure risk-asset demand.
“It is of paramount importance to get inflation down,” future Fed vice chair Lael Brainard said in comments at a conference this week, цитирано by the Financial Times, among others.
“Accordingly, the committee will continue tightening monetary policy methodically through a series of interest rate increases and by starting to reduce the balance sheet at a rapid pace as soon as our May meeting.”
Inflation continued to trouble sentiment beyond the U.S., with eurozone annual producer price inflation jumping by the most on record in February — over 31%. Coming before the Russia–Ukraine war, it is likely that future readouts will be even higher.
Current spot price zone is crucial to hold
In a troubling environment, price watchers were prepared to cut spot some slack, calling for $44,000 to hold as a bullish foundation.
Релатед: Битцоин поново тестира кључни ниво који је изазвао пораст цене БТЦ-а од 66% у 2021
#БТЦ Дневно
+ EMAs stacked in the same order
+ Price testing the 200 at the 0.618 retracementAll while trying to exit a 2-month long accumulation zone.
Hold this 44-45K area and we’re probably continuing up the mid-50s. pic.twitter.com/buzl4vvFms
- ТецхДев (@ТецхДев_52) Април КСНУМКС, КСНУМКС
Private fund manager and CryptoQuant contributor known for his popular Twitter account Gaah argued that $44,400 was the level to defend in order to avoid a dive that could potentially take the market to $37,000.
“Something is off and the coming days will show what is happening,” trader Crypto Ed added, striking a more concerned tone.
A failure to hold $45,000, something that subsequently played out, would thus open up the road to the low $43,000s, he рекао у свом најновијем ажурирању на ИоуТубе-у.
Овдје приказана стајалишта и мишљења су искључиво становишта аутора и не одражавају нужно ставове Цоинтелеграпх.цом. Сваки потез улагања и трговања укључује ризик, приликом доношења одлуке требало би да спроведете сопствено истраживање.
Source: https://cointelegraph.com/news/bitcoin-slides-below-44k-in-april-first-as-trader-warns-something-is-off-with-btc