{"id":204269,"date":"2021-03-17T13:48:33","date_gmt":"2021-03-17T10:48:33","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-dips-under-55k-as-us-bond-yields-touch-13-month-high\/"},"modified":"2021-03-17T13:48:33","modified_gmt":"2021-03-17T10:48:33","slug":"bitcoin-price-dips-under-55k-as-us-bond-yields-touch-13-month-high","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-dips-under-55k-as-us-bond-yields-touch-13-month-high\/","title":{"rendered":"# Bitcoin price dips under $55K as US bond yields touch 13-month high"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36e7d522c72\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36e7d522c72\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-dips-under-55k-as-us-bond-yields-touch-13-month-high\/#BTC_price_stays_firmly_rangebound\" >BTC price stays firmly rangebound<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-dips-under-55k-as-us-bond-yields-touch-13-month-high\/#Long-term_bond_warnings_compound\" >Long-term bond warnings compound<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin price dips under $55K as US bond yields touch 13-month high <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) slid under $55,000 on March 17 as United States treasury yields built on a comeback, which took them to their highest in over a year.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/f2399c3d-fbba-4fd3-ac91-45bcfcfd130b.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: Tradingview<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"BTC_price_stays_firmly_rangebound\"><\/span>BTC price stays firmly rangebound<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro\u00a0and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">Tradingview<\/a>\u00a0showed further downward pressure for BTC\/USD on Wednesday, compounding a comedown that began late on Sunday.<\/p>\n<p>While not plugging the week&#8217;s lows at nearer $53,000, the latest dip to $54,425 on Bitstamp underscores Bitcoin&#8217;s correction after hitting all-time highs of $61,700.<\/p>\n<p>The weakness came in tandem with strength on U.S. bond yields, a classic drain on BTC performance. On-chain metrics showed broad strength, however, while derivatives funding rates also cooled, fueling bullish sentiment beyond spot price action.<\/p>\n<p>&#8220;Bitcoin will continue to rise and rise in the foreseable future \u2014 we don&#8217;t need charts or technical analysis to tell us what is painfully obivous,&#8221; trader Scott Melker forecast in a fresh <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=BO6XwwXWFyY\">YouTube update<\/a>.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/b345d8e1-47e7-4b51-8721-225ab2e2fabd.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD (blue) vs. 10-year U.S. bond yields (orange) chart. Source: Tradingview<\/em><\/figcaption><\/figure>\n<blockquote><p>&#8220;People are increasingly interested in buying Bitcoin as a hedge against central bank behavior and infinite money-printing, while at the same time, supply is rapidly exiting the market.&#8221;<\/p><\/blockquote>\n<p>&#8220;I bought more BTC at 56,500. Just in case anyone was wondering if I\u2019m still bullish,&#8221; Galaxy Digital CEO Mike Novogratz <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/novogratz\/status\/1371965861267922950\">added<\/a> on the day in another example of investor optimism.<\/p>\n<p>At the time of writing, BTC\/USD was circling $55,000 as a slight return to form kept the pair from testing deeper lows.<\/p>\n<p>&#8220;We&#8217;ll only see further downside once $BTC loses ~$55,000,&#8221; popular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> account Rekt Capital <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1372129379237646338\">argued<\/a>, adding to recent Cointelegraph analysis.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/b161f0b6-dbce-470d-b41f-d6b4c764ee0d.jpg\"><figcaption style=\"text-align: center;\"><em>BTC\/USD buy and sell interest (Binance). Source: Material Indicators<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Long-term_bond_warnings_compound\"><\/span>Long-term bond warnings compound<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On the topic of institutional involvement, meanwhile, this week was tipped by Bitcoin investment firm NYDIG to bring significant announcements from prospective large-volume corporate investors.\u00a0<\/p>\n<p>In an episode of the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/onthebrink-podcast.com\/nydig\/\">On The Brink<\/a> podcast recorded on March 10, CEO and co-founder NYDIG Robby Gutmann removed any doubt that the institutional scene was about to transform.<\/p>\n<p>&#8220;I think \u2014 I don&#8217;t think, I know \u2014 starting more or less next week, you&#8217;re going to see an absolute drumbeat of pretty <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a>-changing milestone from some of these firms that are really going to mark each progressively new point in Bitcoin adoption, Bitcoin availability, Bitcoin products and services within the existing traditional financial landscapes,&#8221; he said.<\/p>\n<p>As Cointelegraph reported, meanwhile, the topic of bonds has gained attention from several high-profile sources. This week, it was billionaire Ray Dalio which warned investors to stay away from dollar-denominated targets, with MicroStrategy CEO Michael Saylor championing Bitcoin as the answer.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-dips-under-55k-as-us-bond-yields-touch-13-month-high\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin price dips under $55K as US bond yields touch 13-month high &#8221; Bitcoin (BTC) slid under $55,000 on March 17 as United States treasury yields built on a comeback, which took them to their highest in over a year. BTC\/USD 1-hour candle chart (Bitstamp). Source: Tradingview BTC price stays firmly rangebound Data from&#8230;<\/p>\n","protected":false},"author":1,"featured_media":204270,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvNTljMjM1OGUtMTM0Yy00ZDA1LWFkZjAtNmY3ZTAyNDZjYjgwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74336,73785],"class_list":["post-204269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-bonds","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/204269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=204269"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/204269\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/204270"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=204269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=204269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=204269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}