Crypto

Bitcoin tests $60,000 support as dollar, yields pressure persists

Bitcoin has entered a deep undervaluation zone on on-chain indicators, but whether the $60,000 support holds depends on the dollar and U.S. Treasury yields, an analysis said. Glassnode cited a drop in the dollar index below 99 or a decline in the 10-year U.S. yield to the 4.2 percent range as conditions for a rebound. It said spot demand and corporate buying have weakened, while options markets price greater downside risk.

Crypto

Anthony Pompliano says bitcoin downside limited; has it formed a bottom?

Bitcoin may be nearing the bottom of the current bear market, U.S. investor Anthony Pompliano (앤서니 폼플리아노) said, citing a more limited decline than in past downturns. He said bitcoin has fallen about 50 percent from its record high of $126,198, compared with drops of more than 80 percent in prior bear markets. Analysts also pointed to on-chain indicators and long-term holder selling pressure as factors to watch.