Bitcoin fell in the past 24 hours, almost back to $40,600, and then rebounded more than $41,000. The issue of BitcoinMiner and grayscale GBTC is still affecting the market. The U.S. dollar has also started to strengthen recently, especially from 101 points in early January rise to the recent local high of 103.7, indicating the strong performance of the U.S. dollar against other currencies, mainly driven by factors such as the rise of US Treasury yields and the performance of retail sales data, which have exceeded market expectations. The yield on the 10-year Treasury note has risen for five consecutive days, reaching 4.165%, a situation that typically causes investors to shift from riskier assets such as Crypto Assets to more stable ones.
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Bitcoin fell in the past 24 hours, almost back to $40,600, and then rebounded more than $41,000. The issue of BitcoinMiner and grayscale GBTC is still affecting the market. The U.S. dollar has also started to strengthen recently, especially from 101 points in early January rise to the recent local high of 103.7, indicating the strong performance of the U.S. dollar against other currencies, mainly driven by factors such as the rise of US Treasury yields and the performance of retail sales data, which have exceeded market expectations. The yield on the 10-year Treasury note has risen for five consecutive days, reaching 4.165%, a situation that typically causes investors to shift from riskier assets such as Crypto Assets to more stable ones.
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