Bitcoin’s Drop Below Moving Averages Indicates Bearish Trend
The financial markets have been under pressure due to the trend of moving out of risky assets as government bond yields rose, said Alex Kuptsikevich, the FxPro senior market analyst. Cryptocurrencies seemed to be immune to this trend for a while, but last week, there was a switch to a sell-off mode amid rising US Treasury yields to 16-year highs and fears about China’s debt problems.
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