Bitcoin Poised for Supercycle as US Bond Yields Hit 5.14%
- Rising Bond Yields: The yield on the US 30-year government bond surpassed 5.14% on Tuesday, while Japan's 10-year bond yield climbed to 2.8%, indicating a potential significant shift in the global financial system, prompting investors to seek refuge in Bitcoin and potentially triggering a Bitcoin supercycle.
- Debt Crisis Warning: With the US national debt exceeding $39 trillion, rising geopolitical tensions and escalating energy prices have heightened inflation risks, leading Wu to warn that central banks face a stark choice between allowing currency devaluation or confronting a severe sovereign debt crisis.
- Interest Rates and Debt Burden: Wu highlighted that if yields were to rise to 7%, US interest payments could absorb all federal tax revenues, indicating that central banks are at risk of a fiscal crisis when trying to combat inflation, thus limiting their ability to raise rates.
- Unconventional Intervention: Wu's analysis suggests that instead of traditional quantitative easing, the government and central bank may resort to unconventional methods to inject liquidity, such as yield curve control and unannounced bond buybacks, which could enhance Bitcoin's appeal as a safe-haven asset.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 69582.755 | 71936.177 | 74520.925 | 76874.347 | 79459.095 | 81812.517 | 84397.265 |
| Fibonacci | 71936.177 | 73822.558 | 74987.966 | 76874.347 | 78760.728 | 79926.136 | 81812.517 |
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