Bitcoin
The push of a new record of all time Wednesday met a brick wall just below $ 110,000.
After reaching a record of $ 109,754, BTC quickly fell to around 3% for the area of $ 106,000. At the time of the press, the upper cryptocurrency was negotiated just over $ 107,000 according to the Bitcoin price index in Coindesk, slightly lower than the last 24 hours.
Other cryptocurrencies have also taken a hit, with Ether
And Solana is also slightly more down during the last day despite the early Wednesday race.
The reason for price action can be as simple as merchants who have made rapid increases – Bitcoin was higher by almost 50% from the bottom about five weeks ago. The probable contribution was probably the training effect for a sale of the US Treasury bonds going from the way and striking risk assets.
A 20 -year -old bond sale sold by the US Treasury Department experienced a low request, sending the 30 -year -old treasure to 5.07%, its highest level in more than two years.
Time bomb
The NASDAQ fell 1.5% in just one hour shortly after the news, while the S&P 500 decreased by 1.3%.
“This is a delay bomb, swept away under the carpet,” said Josh Mandell, a long-standing fixed income veteran that has become Bitcoin analyst, before the bad sale of this afternoon bonds.
“We used to talk about the disaster that would follow if there was a” missed auction “in 30 -year bonds,” said Mandell. “A missed auction means that there were not enough offers to cover the offer … If it is not for the Fed, we would have the lack of restarting the obligations at the moment, which leads to failure.”
Kirill Kretov, commercial automation expert at Coinpanel, said that liquidity of the scholarships have been considerably removed since the end of 2024, “making the market thinner and more reactive”, leaving the price of bitcoin vulnerable to wild swings.
“Structurally, there is room for an increase in the rise,” he said, but “a clear correction can occur at any time”.
The level of $ 110,000 has become a key battlefield in the current market structure, the well -followed crypto trader was noted in a post X, describing it as the critical area between a local high and a potential escape point.
According to SKEW, there is a notable concentration of supply around this level, with perpetual binance showing an asymmetrical command book and an accumulation of short positions.
“All indicate a huge amount of liquidity here, generally crucial for the market,” said Skew.
