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Bitfinex Report: US Treasury yields surge, Bitcoin faces consolidation risk
Bitfinex's latest Alpha report points out that Bitcoin is facing the risk of consolidation as U.S. Treasury yields soar and the economic outlook bleak.
Affected by macroeconomic uncertainty, the price of Bitcoin fell below the $90,000 mark on January 13, and briefly dropped below $89,000.
Source: Sosovalue.com
At the same time, the spot Bitcoin spot ETF has shown net outflows for 7 of the past 12 trading days. Although the net inflow of funds on January 3 and 6 was close to $1 billion per day, it reversed on the 8th and 10th, with a total outflow of $731 million.
Affected by macroeconomic uncertainty, the price of Bitcoin fell below the $90,000 mark on January 13, and briefly dropped below $89,000.
Source: Sosovalue.com
At the same time, the spot Bitcoin spot ETF has shown net outflows for 7 of the past 12 trading days. Although the net inflow of funds on January 3 and 6 was close to $1 billion per day, it reversed on the 8th and 10th, with a total outflow of $731 million.
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