Bitcoin Under Pressure, Two-Year Treasury Yield Hits 21-Month High

Market Awaits U.S. CPI Data
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Biggest Movers

These are the biggest movers in the CoinDesk 20 over the past 24 hours:

 

Top Gainers:

  • There are no winners today in CoinDesk 20.

Top Losers: 

  • Polygon (MATIC): -7.30%

  • Algorand (ALGO): -5.53%
  • Chainlink (LINK): -5.5%

The CoinDesk 20 are 20 digital assets filtered from the larger universe of thousands of cryptocurrencies and constitute roughly 99% of the market by volume at eight of the largest and most trustworthy exchanges.

Technician's Take

by Omkar Godbole

Lower Highs on Bitcoin

Bitcoin's daily chart (Source: TradingView)

  • Consecutive lower highs suggest the path of least resistance is to the downside and favours a re-test of recent lows under $44,000.
  • A UTC close above the lower high of $51,995 created on Dec. 7 is needed to negate the bearish outlook.

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ICYMI

In case you missed it, here are the most recent episodes of "First Mover" on CoinDesk TV:

 

Crypto CEOs Defend Industry as Congress Weighs Regulation, Terraform Labs Co-founder and CEO Do Kwon on Future Plans

 

"First Mover" hosts speak to CoinDesk Managing Editor for Global Policy & Regulation Nikhilesh De on the key takeaways from Wednesday's hearing where House Financial Services Committee members questioned crypto executives. Terraform Labs Co-founder and CEO Do Kwon is named top 10 of CoinDesk Most Influential this year. Kwon explains the plans for his company. Plus, market insights from Ava Labs President John Wu and the latest development from the Polygon network.

CoinDesk Careers

Latest Headlines

Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments. 

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