Bitcoin hovering above 47k

Following on from the previous update on Gold and its immediate reaction to a drop in the US bond market and corresponding yield rise, it is worth noting and repeating what was said here about Bitcoin. That is its potential vulnerability to higher US yields too. We saw yesterday how that impacted the price of BTC, but it did not last long. However, Bitcoin is lower this afternoon and the drop back towards 47k again has come ahead of the rise on the US treasury yields. Hence, it is worth keeping an eye on that dynamic again here today because if those yields do continue to push higher then it might show up in a converse reaction in Bitcoin. The 10 Year note yield is now at session highs, currently 1.368%. Bitcoin is just now poised to potentially fall below 47k again, currently trading at 47,350