Bitcoin Falls as Investors Take Wait-And-See Approach — Market Talk

Bitcoin falls in Asian trading. Investors are taking a 'wait and see' approach, with blockchain and trading activity data showing spot volume at multi-year lows, muted exchange flows and few signs of heavy buying or selling, Glassnode's Frederik Theissen says. The macro environment encourages capital to wait, as U.S. Treasury bonds offer attractive yields and a strong U.S. dollar makes dollar-denominated assets more appealing, denting appetite for risk assets. Theissen says bitcoin's current bear market has been relatively shallow compared with previous cycles but may not be over yet. A move above $69,000, supported by strong trading volume, would signal a meaningful recovery. Conversely, a fall below the $62,000-$68,000 support range would point to renewed selling pressure, Theissen says. Bitcoin is last down 0.6% at $64,350.46. ([email protected])