16 hours ago
4
Key takeaways
- BTC eases back from 76k, a monthly high.
- Technical indicators suggest further correction in the near term.
Bitcoin has dropped below $74,000 after pulling back from a monthly high earlier this week. The cryptocurrency surged from $70K at the start of the week to hit $76K on Tuesday, before easing to its current level.
Mixed signals for the crypto market
The US Navy has confirmed a full blockade of Iranian ports, amplifying concerns over oil supply disruptions and pushing prices higher from three-week lows. However, President Trump has suggested that the conflict may be nearing an end, which has tempered further upside in oil prices and kept hopes of a de-escalation alive.
In addition to that, treasury yields have been on a downward trend, supported by softer-than-expected PPI data for March, which rose 0.5% month-on-month, below the 1.2% forecast. This easing of inflation concerns benefits Bitcoin, as lower yields signal improving liquidity and reduce the opportunity cost of holding non-yielding assets like crypto.
The US stock market ...
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