A report from a trading company pointed out that the sharp rise in the interest rate of 10-year treasury bond bonds in the past 16 years may lead to the sell-off of the stock market, which will have an impact on the special currency market.With the rise of interest rates and the US dollar, as well as the decline of the stock market, the price of Bitcoin has dropped to $26500
A report from a trading company pointed out that the sharp rise in the interest rate of 10-year treasury bond bonds in the past 16 years may lead to the sell-off of the stock market, which will have an impact on the special currency market.
With the rise of interest rates and the US dollar, as well as the decline of the stock market, the price of Bitcoin has dropped to $26500.
Edward Moya, a senior market analyst at Oanda, said that the Federal Reserve's stance on "long-term interest rate hikes" has put some pressure on cryptocurrency companies.
According to QCP Capital, a stock market sell-off may drag down the price of Bitcoin.
In the cryptocurrency market, there was a decline on Thursday as investors were concerned after digesting the tough speech from Federal Reserve Chairman Jerome Powell on maintaining financial tightening policies and long-term high interest rates.
The price of Bitcoin (BTC) has fallen to around $26600, a decrease of 1.5% in the past 24 hours. Despite positive news regarding delayed payment issues related to the internal event at Mt. Gox, this internal event has been a long-term source of selling pressure in the digital asset market.
Edward Moya, a senior market analyst at Oanda, said that the Federal Reserve's stance on "long-term interest rate hikes" has put some pressure on cryptocurrency companies.
According to QCP Capital, a stock market sell-off may drag down the price of Bitcoin.
In the cryptocurrency market, there was a decline on Thursday as investors were concerned after digesting the tough speech from Federal Reserve Chairman Jerome Powell on maintaining financial tightening policies and long-term high interest rates.
The price of Bitcoin (BTC) has fallen to around $26600, a decrease of 1.5% in the past 24 hours. Despite positive news regarding delayed payment issues related to the internal event at Mt. Gox, this internal event has been a long-term source of selling pressure in the digital asset market.
Stock selling may drag down Bitcoin prices
The Federal Reserve is expected to raise interest rates once this year and lower rates slightly next year, which has stimulated traditional markets.
The yield of 10-year treasury bond soared to a new 16 year high, while the DXY index, which measures the strength of the US dollar against a basket of major currencies, briefly jumped to around 106, the highest level since the banking difficulties in the US region reached their peak in March.
As a result, the US stock market was sold off, with the S&P 500 index falling 1.6% and the Nasdaq Composite Index, which is dominated by technology stocks, falling 1.8%.
QCP Capital, a digital asset trading company, stated that the pressure brought by the Federal Reserve's strict policies on the stock market may drag down cryptocurrency prices.
In this context, the US stock and interest rate markets have broken through some very critical levels, and from here on, reflexivity may replace bearish arguments, "QCP wrote in Telegram Market Update." This macro measure may penetrate the cryptocurrency market and cause Bitcoin prices to decline, although its beta value is lower compared to other very tight macro markets such as Nasdaq
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