Bitcoin feels the heat of higher US yields as it drops to test technical support

Bitcoin was already edging lower this afternoon after stalling much earlier today at 102,733. BTC had already dropped below the 101k handle and close to 100k when the US data releases kicked it lower still. The price has dropped to a low right now at 97,603 and hence back almost underneath that rising 50 day moving average. That is in place right now at 97,560. The low seen so far has been set at 97,580, so it looks likely there is some buyers in place just ahead of any potential move below the technical level. We shall perhaps see; just how strong that buying interest may prove to be. BTC has infact just now pushed below that technical level in the time it has taken to write this update. It has fallen to a low at 97,486. It is currently trading at 97,630