NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Bitcoin Makes a Go at $40,000 amid “Risk-Off” Trade

Yashu Gola
Yashu Gola
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Is Bitcoin a safe-haven? Not this week.

The world’s leading cryptocurrency accelerated its losses on Tuesday as traders decided to realize their profits. It shed up to $9,318, or 17.19 percent, to an intraday low of $44,888. The move downhill extended its week-to-date losses to a little over 22 percent.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Bitcoin plunges amid an anti-risk-on sentiment. Source: BTCUSD on TradingView.com

The BTC/USD exchange rate slipped below a crucial support offered by its 20-day exponential moving average. In recent history, the pair’s breakdown below the green wave increasieed its possibility to extend the downtrend towards the next wave target near the 50-day moving average (blue).

Coincidentally, the blue wave sits right in the region that earlier was resistance to Bitcoin’s uptrend attempts. Now a flipped support, the area anticipates to act like a magnet to Bitcoin’s downtrend, exposing the cryptocurrency to levels near $40,000.

Risk-Off Bitcoin

Bitcoin’s losses coincided with a similar sell-off across the US stock market, led by a retreat in the technology stocks. Futures tied to the S&P 500 slipped 0.5 percent, logging its fifth consecutive day in the red. Meanwhile, contracts for the Nasdaq Composite plunged 1.5 percent, suggesting that tech stocks would continue to lead the markets lower.

A sharp rise in US government bond yields has reduced investors’ appetite for riskier assets in recent sessions in recent sessions. The upside momentum in bond rates particularly affected markets that experienced massive bull runs during 2020. Thanks to its higher yields, traders and investors merely rotated out of their profitable positions to seek stable returns in the bond market.

The US pre-open market inclination is “risk off”, and particularly so for #tech #stocks ( #NASDAQ is indicated down over 1%) and #Bitcoin (falling almost 17% — chart). US government bond #yields are largely unchanged with the 10-year at 1.37%.#investing #bonds #markets #bitcoins pic.twitter.com/6kdmZ1OGdo

— Mohamed A. El-Erian (@elerianm) February 23, 2021

Investors note it is the momentum at which yields have increased, rather than their level, that is hurting riskier assets. Bitcoin, which traded inversely to bond yields all across 2020, tends to move lower as a result.

Powell Testimony

The fall across the stock and cryptocurrency market has shifted focus on Jerome Powell’s testimony before the US Senate Banking Committee on Tuesday.

The Federal Reserve Chairman will likely signal that his office would keep the quantitative easing policies at place until the economy achieves “maximum employment” and inflation rates above 2 percent. That includes a monthly purchase of $120 billion worth of government bonds and mortgage-backed securities and a near-zero interest rate.

Bitcoin anticipates to hold its long-term bullish bias as long as Fed continues its dovish program. More upside tailwinds for the cryptocurrency also appears in the US president Joe Biden’s plans to pass a $1.9tn coronavirus stimulus package through the House of Representatives this Friday.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

HYLQ și Hyperliquid: fuziunea dintre DeFi și finanțele tradiționale

În ultimele luni, Hyperliquid a devenit un subiect central în știrile din piața cripto. Această platformă descentralizată de tranzacționare nu...

antonio 1 hour ago
Dogecoin

Dogecoin Gets Its 1st Foundation-Backed Treasury Worth $175 Million

Dogecoin’s backers moved quickly this week to create what they call the first official DOGE treasury, pushing $175 million into...

Christian Encila 1 hour ago
crypto altcoin season news

Crypto Analyst: Altcoin Charts Flash Rare 2021-Style Breakout Setup

Crypto analyst Kevin (Kev Capital TA) argues that altcoins are replaying the same structural script that preceded the 2021 “altseason,”...

Jake Simmons 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Previsioni Ethereum: ETH a 4.000$? I Ribassisti Sono Al Comando?

clararosati 18 minutes ago

Memecore: Σημαντική άνοδος 36% από $0,63 σε $0,94 – Τι μπορεί να ακολουθεί

Ιωάννης Ριζόπουλος 49 minutes ago
Bitcoin

Bitcoin Battles Key Support: Can September’s Dip Set The Stage For A Q4 Rally?

Godspower Owie 56 minutes ago

Premium Sponsors

Press Releases

  • Trust Wallet Brings Tokenized Stocks & ETFs Onchain for...

    25 minutes ago
  • Mennyit érne a TRUMP Meme Coin, ha elérné a Token6900...

    44 minutes ago
  • Kolik by stál TRUMP Meme Coin, kdyby dosáhl tržní kapitalizace Token6900

    Kolik by stál TRUMP Meme Coin, kdyby dosáhl tržní...

    55 minutes ago
  • Xiushan Mining

    Why has billionaire Sun Yuchen set his sights on Xiushan...

    55 minutes ago
  • Колко би струвал TRUMP Meme Coin, ако...

    1 hour ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.