Strengthening dollar and yields are putting pressure on Bitcoin, ahead of tomorrow’s US data: CPI inflation, Fed decision and Powell’s conference. Contracts for the dollar index are up more than 0.2% today, another consecutive session, and 10-year US Treasury bond yields are back above 4.45%, although last week they were trading at 4, 26%. Some cryptocurrencies are losing considerably more today than Bitcoin, which is down less than 5%. Ethereum is trading down almost 6% and has retreated below $3,500; Intercomp and Sushi lose almost 10% and the falls in Uniswap exceed 12%.
Yesterday, ETFs recorded small net outflows of $64.9 million after 19 days of buying. Source: Bloomberg Finance LP
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