Bitcoin broke below $84,000 support Wednesday as Treasury yields surged to 24-year highs.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $83,332.93 |
| Ethereum | (CRYPTO: ETH) | $2,558.02 |
| Solana | (CRYPTO: SOL) | $116.70 |
| XRP | (CRYPTO: XRP) | $1.42 |
| Dogecoin | (CRYPTO: DOGE) | $0.0885 |
| Shiba Inu | (CRYPTO: SHIB) | $0.055392 |
Notable Statistics:
- Coinglass data shows 124,815 traders were liquidated in the past 24 hours for $716.71 million.
- SoSoValue data shows net inflows of $118.9 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net outflows of $201.9 million.
- In the past 24 hours, top gainers include Raydium, Bitway and Figure Heloc.
Notable Developments:
- XRP Plummets 4% to $1.43: What is Going On?
- Bitcoin Analyst Who Sold the Top Is Bearish Again: ‘I’m Building Shorts’
- Bitcoin’s Rally Ran on Thin Volume: Is a Cascade to $81,000 Next?
- Robinhood Joins Strategy, Tesla In Holding Bitcoin, Exec Says: ‘We Care Deeply About Bitcoin’
- Bitcoin Plunges to $83,500, ETH, XRP Lose Over 3%: What Is Going On?
- PENGU, DOGE, SHIB Plunge 7% as Pudgy Penguins’ Parent Exits Blockchain
- Eric Trump Says Crypto Can ‘Declare Victory’ Over Banks: Is He Right?
- Tom Lee Says Bitmine Will ‘Stop’ Buying ETH—BMNR Falls 6%
Trader Notes:
Heavily followed key opinion leader Scott Melker said in an interview with industry expert Noelle Acheson that a surging 10-year yield and oil above $100 act as major macro headwinds weighing on Bitcoin.
The bullish macro thesis is that worsening Treasury-market stress eventually forces liquidity intervention, which could become the next major catalyst for Bitcoin.
Image: Shutterstock
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