Bitcoin price preparation for ‘up only mode’ while US bonds have suffered the worst sale since 2019
Bitcoin (Btc) is attending what Bitmex’s former CEO Arthur Hayes Call “Only the mode is up,” as a deepening crisis in the US bond market that potentially drives investors away from traditional haven possessions and towards alternative value stores.
Losing confidence in US policy boosts reversed Bitcoin prospects
On April 11, the Benchmark of the 10-year yield of the treasure arrival rose above 4.59%-highest levels for two months.
The US 10-year Treasury Note produces a daily performance chart. Source: Tradingview
The $ 29 trillion US Treasury Market dropped more than 2% this week – the steep decline since September 2019, when a Liquidity Crunch in the Repo Market Repo Forced The federal reserve to intervene.
The unpredictable tariffs of the U.S. announcements and reversals have come to fruition. After the threat of disappearances to the global trading partners, Trump walked back in several steps within the days for some countries, except China.
The US dollar was added to the pressure, with strength against a basket of leading foreign currencies – as the US Dollar Index (DXY) monitored – which was below 100 marks for the first time since 2022.
US Dollar Index Embarrassment Performance Chart. Source: Tradingview
That was more noticeable the worst weekly collapse in two years.
In contrast, Bitcoin rose more than 4.50% in the middle of the US bond market route, Reach around $ 83,250 in hopes that weaken macroeconomic conditions Push US policies to act.
“It’s like Donkey Kong,” Hayes wrote in his April 11 x post, adding:
“We will get more policy response this weekend if it will maintain. We will soon enter mode only for $ BTC.”
Moreover, bond entrepreneurs are now pricing at least three reduction rates from the Federal Reserve by the end of the year, with fourths becoming likely. Rate cuts have Historical became bullish for bitcoin.
Probabilities at the target rate for the December Fed meeting. Source: CME
The bitcoin eyes ‘parabolic bull run’ because of the weaker dollars
History, the sharp drops in the US dollar index have previously delayed but Bitcoin Bull runs strongAccording to the crypto analyst venturefounder.
“A falling DXY is usually a powerful signal for Bitcoin,” the analyst Write to xpointing to a clear difference -bearish in the chart.
DXY VS BTC/USD Monthly Price Chart. Source: TradingView/VentureFounder
He added that if the DXY continues to slip to the 90’s level, it can replicate conditions that lead to parabolic BTC rallies in the later stages of past bull markets – each last up to a year.
In addition, the creator of bollinger bands John Bollinger offered A bullish outlook for Bitcoin, noting that cryptocurrency forms a familiar bottom of $ 80,000.
Related: Bitcoiners’ ‘Bullish Impulse’ in retreat can be premature: 10x Research
Meanwhile, a fiery falling wedge pattern on the BTC price chart indicates a potential bitcoin price rally towards $ 100,000, as Cointelegraph reported earlier.
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