CryptoQuant's JanWues: Bitcoin $BTC is 'finally catching up' with surging $TNX w/ CalebFranzen Cryptoquant
Typically, in this bullish rally, Bitcoin closely followed the US10Y rates indicator. However, in December 2021, this correlation vanished. Bitcoin price was decreasing, while the US10Y rates spiked to multi-month highs over 1.8 percent.
However, after Bitcoin touched its local bottom at $32,950, both metrics got back to surging. Now, the US10Y rates are at the highest since July, 2019. US10Y have been surging since late July 2020. By printing time, the indicator holds above 1.9 percent.Market analyst and economist Caleb Franzen also spotted the end of 'de-coupling' and is sure that new upsurge of both indicators is nowhere near its end:
As I've been saying, my expectation for these 2 variables to converge, likely by seeing both move higher. In that scenario, #Bitcoin has a lot of catching up to do. 'Decoupling', i.e. the situation when Bitcoin loses its correlation with some traditional assets is widely used as an indicator of trend for the flagship cryptocurrency.For instance, the most impressive phase of its latest bullish rally started by BTC/XAU decoupling in August 2020.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin metrics demand BTC price gains as analysis calls for ‘near-term caution’BTC price action may dip below $40,000 before the overall recovery continues for Bitcoin bulls.
Read more »
Bitcoin stuck in a tight range as BTC price moving averages prepare key bullish crossWith the inflation ghost still floating in the air, an uncommon market situation suggests a potential trigger on BTC that could test either resistance or support around the $43K and $45K range.
Read more »
The world's first and oldest Bitcoin mining pool has mined nearly 1.3 million BTC since inceptionOld is gold. The world’s oldest mining pool braiins_systems, is still the way to go for more than 15 thousand crypto-enthusiasts, having mined over 1.3 million BTC since it landed in 2010.
Read more »
Bitcoin (BTC), Ethereum (ETH) Recovering Post-Inflation Triggered LossesThe recent cryptocurrency rally came to an abrupt halt Thursday as US Treasury yields jumped on heightened inflation worries. Get your weekly Bitcoin and Ethereum forecasts from nickcawley1 here:
Read more »
BTC/USD Forecast: Bitcoin Squeezes at Major Moving AveragesBitcoin has pulled back just a bit during the early hours on Thursday, only to turn right back around and slam into the 200 day EMA.
Read more »
Bitcoin rejects sell-off as 7.5% US inflation fails to keep BTC down for longBitcoin outsmarts bears as $1,800 losses turn to even stronger gains on the start of Wall Street trading.
Read more »