Bitcoin Plummets Below Equilibrium Amidst Soaring JGB Yield
Bitcoin has broken below its daily equilibrium of $84,304.02, shifting focus to the $81,178 range low as a bearish setup takes shape.
The price move comes amidst rising macro pressure from Japan's 10-year JGB yield hitting 3.075%, its highest level since August 1996, intensifying sovereign bond selling and adding downside risk to crypto and BTC price action.
A sustained 4H or daily close below $84,304 would strengthen the bearish setup, according to CryptoRank.