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Bitcoin (BTC) fell below $80,000 into Tuesday’s Wall Street open as crypto and gold gave way to gains in US equities.
Key points:
- Bitcoin upside momentum fizzles as $80,000 proves difficult to flip to support.
- Gold joins BTC price downside after multimonth highs of $4,697 per ounce as US 30-year bond yields target three-week lows.
- Attention switches from bonds to US inflation data and Nvidia earnings tomorrow.
Bitcoin price struggles to cement $80,000 reclaim
Data from TradingView showed BTC/USD falling as low as $78,111 on Bitstamp after reaching new 14-week highs of $81,265.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
The $80,000 zone, which traders previously earmarked as an area of strong sell pressure, proved difficult to reclaim as US trading hours appeared to increase downside across both Bitcoin and gold. XAU/USD saw local lows of $4,605 per ounce, down nearly 2% on the day.Â
XAU/USD one-hour chart. Source:…
