Currency Economy

Beware the ides of March: Bitcoin slumps as Treasury yields and the dollar rise again

Cryptocurrency (Mar 08, 2021 10:00AM ET) Beware the ides of March: Bitcoin slumps as Treasury yields and the dollar rise again

Beware the ides of March: Bitcoin slumps as Treasury yields and the dollar rise again

The price of Bitcoin (BTC) is struggling to break past $51,000 on March 8 as the U.S. Treasury yield is rising again, while the U.S. Dollar Index (DXY) is at the highest levels in over three months.

The global stock market, including equities in the United States and Asia, has pulled back in tandem as the U.S. Senate’s stimulus approval has sparked inflation fears.BTC (orange) vs. DXY (green) vs. Treasury yield (blue). Source: TradingviewThe U.S. 10-year Treasury yield. Source: BloombergThe price of Bitcoin with key levels. Source: Loma, TradingViewBTC/USDT volume support/resistance levels (Binance). Source: Material Indicators

Continue Reading on Coin TelegraphBeware the ides of March: Bitcoin slumps as Treasury yields and the dollar rise again 

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