Bitcoin (BTC) fell more than 1.6% on Friday as its latest price correction accelerated after Wall Street opened.<\/p>\n
Key points:<\/strong><\/p>\n Data from TradingView showed BTC\/USD approaching $64,000 as bulls struggled to preserve recent gains.<\/p>\n BTC\/USD one-hour chart. Source: Cointelegraph\/<\/em>TradingView<\/em><\/a><\/p>\n Geopolitical tensions and macroeconomic headwinds<\/a> weighed on crypto markets as appetite for risk assets faded.<\/p>\n Trading firm Mosaic Asset Company said<\/a> rising US Treasury yields were a key driver of the sell-off.<\/p>\n \u201cMassive moves are underway across the yield curve despite a weaker than expected consumer inflation report,\u201d it wrote, referring to the latest US Consumer Price Index (CPI) report<\/a>.<\/p>\n Mosaic said the two-year yield was particularly prone to influence the outlook on Federal Reserve interest-rate changes, with risk assets suffering as a result of additional hikes.<\/p>\n \u201cThe 2-year yield that tends to lead fed funds is now at 4.31% and sits well above the Federal Reserve\u2019s target range,\u201d it continued.<\/p>\n US two-year Treasury yield one-week chart. Source: Cointelegraph\/TradingView<\/em><\/p>\n The latest data from CME Group\u2019s FedWatch Tool<\/a> showed that markets still expected the Fed to leave rates unchanged next week, while pricing in a 0.25% hike in September as one of two increases expected before the end of 2026.<\/p>\n Mosaic added that those expectations were \u201cplacing downward pressure on stock indexes.\u201d<\/p>\n Fed target-rate probability comparison for September FOMC meeting (screenshot). Source: CME Group<\/em><\/p>\n In ongoing market monitoring, crypto trader Killa said BTC was repeating a familiar short-term trading pattern.<\/p>\n Related: <\/strong><\/em>BTC supply in profit eyes 60%, but analysis hints recovery may \u2018roll back over\u2019<\/strong><\/em><\/a><\/p>\n \u201cTextbook setup on $BTC. Seen this occur numerous times,\u201d they said<\/a> on X, repeating a post from early June in which they identified a \u201cplunge protection team\u201d active on the largest crypto exchange Binance.<\/p>\n A chart accompanying the post showed layers of bid liquidity below the spot price, with its owners potentially not planning for the positions to be filled.<\/p>\n BTC\/USDT chart with order-book liquidity data. Source: Killa on X.com<\/em><\/p>\n Analytics account Wealthmanager focused on $64,000, warning that a break below that level would \u201cinvalidate\u201d the low-timeframe market structure.<\/p>\n <\/a><\/p><\/blockquote>\n Trader and analyst Rekt Capital, meanwhile, doubled down on the theory that BTC\/USD was repeating behavior from its 2022 bear market<\/a>, rejecting from the 50-month exponential moving average (EMA) at $65,950.<\/p>\n \u201cBitcoin hasn\u2019t really offered any evidence to the contrary. Still following 2022 historical tendencies,\u201d he summarized<\/a>.<\/p>\n BTC\/USD one-month chart with 21, 50EMA. Source: Rekt Capital on X.com<\/em><\/p>\n<\/div>\n This article is produced in accordance with Cointelegraph’s Editorial Policy<\/a> and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.<\/p>\n\n
Bitcoins Analysis warns US bond yields now \u201cwell above\u201d target<\/h2>\n
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