CryptoQuant analyst likens current Bitcoin setup to late 2018
- —Only about 55% of US stocks trade above their 200-day moving average, Fidelity's Jurrien Timmer noted
- —10-year Treasury yields are approaching multi-year highs
- —More than $428 million in crypto positions were liquidated in 24 hours, including $166 million in BTC
- —Spot Bitcoin ETFs drew about $1.07 billion over three sessions
Why it matters: If the equity and bond warning plays out, Bitcoin could break below its current range; technical analysts are waiting for a clear exit from consolidation.
Source: Comparic