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Bitcoin takes another hit as US yields rise
Amongst so many other reactions to the US CPI data, Bitcoin got smacked lower. The lead coin slumped very close to 94k on the news. The fall comes after it earlier failed to sustain more than a glancing rise back above the noted 100 day moving average, around 96,317. Bitcoin is off its immediate post CPI lows, but that does not mean it will not have another relapse this afternoon. We shall just have to see on that, but the immediate signs are not so positive. Those 10 year US yields jumping above 4.60% and close 4.65% is not helpful to the price outlook in the short-term. BTC is right now trading at 94,720- a sell on the rally perhaps?
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