News analysis
Bitcoin and Treasury yields fall together as $80,000 recovery fails, CryptoSlate reports
· By MyCryptoSignal Editorial · 325 words
CryptoSlate reports that Bitcoin and Treasury yields fell together in a rare divergence, with an $80,000 recovery failing to hold. The outlet points to November 2 ETF redemptions as a demand concern, and notes real yields dropped through October 30.
CryptoSlate frames the move as unusual: Bitcoin and Treasury yields usually move in opposite directions, and this time both declined. The outlet ties Bitcoin's latest decline to a drop in real yields through October 30. It also flags November 2 ETF redemptions as a demand concern, and describes the $80,000 recovery as having failed.
The report was published on November 3. CryptoSlate's summary does not state the size of the redemptions, the level of real yields, or the price at which the recovery stalled. Those figures are reported as the outlet's account, not as numbers we have independently confirmed.
Our own collected numbers, as of 09:17 UTC, show Bitcoin at $78,328, up 2.14% over 24 hours. That gain sits inside a 24-hour range of $75,695 to $78,413, leaving the price near the top of the band. Over longer windows the picture is weaker: BTC is down 3.23% over seven days and 9.11% over 30 days. Our RSI reading is 62.7 and the trend is flat.
Support sits at $77,628.90 and resistance at $78,667.30, both close to the current price. The wider market shows a total capitalization of $2.48 trillion, up 1.89% over 24 hours, with Bitcoin dominance at 63.5%. Bitcoin's 24-hour move of 2.14% is close to the market's 1.89%, so the two are moving at a similar pace.
The source's account and our numbers describe different horizons. Bitcoin is up 2.14% over 24 hours but down 9.11% over 30 days, and the $80,000 level CryptoSlate calls a failed recovery sits above our resistance reading of $78,667.30. ETF redemptions and real yields are the two variables the outlet raises; neither appears in our price data.
Read the full story at CryptoSlate: https://cryptoslate.com/bitcoin-and-treasury-yields-fall-together-in-rare-divergence-as-80000-recovery-fails
Data, not advice.
Source: CryptoSlate — see our editorial policy.