BTC takes out 63k as US yields rise and stock futures fall

Bitcoin has recently come under the hammer again. It seems the move lower in the Dow Jones futures ahead of the opening is one driver for the move lower in BTC. Perhaps the rebound in the dollar is another, but more likely right now it seems the higher bond yields are forcing BTC liquidations. The US 10 Year yield is now close to 4.75% and that is surely a headwind. Whilst not ruling out a rebound in BTC, as is always wise these days, the downside is garnering more traction again this afternoon. BTC has just hit a low at around 62,785. It is above that now though, currently trading at 63,240 and once again the price action is pretty fluid out there this afternoon