Bitcoin traded just above $84,000 on Friday, flat over 24 hours after falling below that level on Wednesday, CoinDesk data show. Most major tokens moved less than 2%. Smaller names did the running, with ONDO up 27% to about 54 cents and Quant up 39% to nearly $100.
Bonds found a floor in Asia. The 10-year Treasury yield slipped two basis points to 5.17% after jumping more than 20 basis points over the previous two sessions, and Brent fell 1% to about $105 a barrel on reports that Washington and Tehran are exploring a phased deal to reopen the Strait of Hormuz.
FxPro chief market analyst Alex Kuptsikevich reads bitcoin’s drop as a stall short of the target technical traders had projected for the rally that began in mid-August.
“As with the overall market capitalisation, the leading cryptocurrency encountered resistance near a previously significant support level. However, BTC failed to complete the Fibonacci extension pattern to 161.8%…
