CoinDesk
Bitcoin traded just above $86,000 early Tuesday, down 0.2% over 24 hours, after Monday's push above $87,000 met heavy selling for the third time since Sept. 23. The price briefly fell to $85,200, according to FxPro, putting a run of higher lows that began last week under pressure but not yet breaking it.
Why it matters
FxPro said a drop below $84,000 would give bears the upper hand. A further break below the recent low near $83,000 could confirm that shift and put $80,000 in play.
Market impact
U.S. Treasury yields eased from their highest levels since 2002 as oil fell below $100 a barrel, pausing a global bond selloff linked to inflation concerns and expectations of further Fed tightening. Treasury Secretary Scott Bessent said growth and spending restraint would "very quickly" slow government borrowing. Minutes from the Fed's last meeting are due Wednesday.
Frequently asked questions
-
What Bitcoin price level would put $80,000 in play?
FxPro said a break below the recent low near $83,000 could confirm a bearish shift and put $80,000 in play.
-
What would a break below $84,000 signal?
FxPro said a drop below $84,000 would give traders betting on lower prices the upper hand.
-
Has Bitcoin's run of higher lows already broken?
No. FxPro said the run of higher lows that began last week is under threat but has not broken.
-
Why did Treasury yields ease?
Yields fell from their highest levels since 2002 as oil slipped below $100 a barrel. Scott Bessent also said growth and spending restraint would slow government borrowing.
-
What upcoming event could inform markets about Fed policy?
Minutes from the Federal Reserve's last meeting are due Wednesday, amid bets that the Fed will keep tightening.
Crypto News
CoinTelegraph
Benjamin Cowen
Lookonchain
CryptoSlate