FX has stopped reading bond yields the old way. Bitcoin should too: Crypto Daily

BTC

BTC/USDT

$79,657.35

-1.92%

$79,657.35

-1.92%

(24s)

24h Volume

$17,777,722,963.21

24h H/L

$81,423.03 / $78,660.00

Change: $2,763.03 (3.51%)

Long/Short

52.6%

Long: 52.6%Short: 47.4%

Funding Rate

-0.0009%

Shorts pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$79,697.72

▲ 0.05%

Volume (24h): -

Resistance Levels

Resistance 3$91,281.84

Resistance 2$88,315.23

Resistance 1$80,811.61

Price$79,697.72

Support 1$79,507.02

Support 2$76,172.06

Support 3$74,131.55

Pivot (PP):$79,916.17

Trend:Sideways

RSI (14):66.5

CoinDesk Staff

(11:26 AM UTC)

1 min read

Verified byEmily Watson

0 comments

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Summary

This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already.

Those following markets have likely heard the standard line by now. It says rising government bond yields across the developed world are a headwind for bitcoin and crypto more broadly. Now the foreign exchange market is telling us that it's time to abandon that read.

Th…