Bitcoin drops to a critical level as bond yields rise sharply everywhere.


This is the zone I want to see hold to prevent a collapse across the entire market.
If Bitcoin drops to a low level, how deep will we need to search for the valuation of altcoins?
Additionally:
- Oil prices surge (have filled the CME gap)
- Bond yields increase sharply (Japan is on a strong growth trajectory and may be in the final stage --> a shift is imminent)
Due to these two drivers, cryptocurrencies may decline again because high yields are unfavorable for high-risk assets.
Bitcoin has a CME gap at $79,100, very likely to be touched in the next few days.
If this zone is lost, I need to see clear signs that the market is shifting back upward with strong support/resistance levels.
Besides, I will consider a slight rebound zone around $71,000, but most importantly, this is the zone I want to hold to provide support.
{spot}(BTCUSDT)
BTC-1.8%
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