Keep an eye on Bitcoin downside if US yields continue to rise

Bitcoin is still parked underneath 30k this morning. It has shown little inclination so far to rebound much either. The current price is nearer to its lows of the session than the highs. It does not yet seem to have reacted much to the drop in US bonds and subsequent higher yields. Perhaps if those keep moving in the current direction then it might well do so. The truth is we know how often falls in US bonds can have a detrimental impact on BTC, in the same way that falls in the equity space can do too. Bitcoin is currently trading at 29,770