Rising Treasury Yields Weigh Heavily on Bitcoin’s Price Outlook

Bitcoin faces growing bearish pressure as 10-year U.S. Treasury yields rise, diverting investor interest. Historically, higher Treasury yields reduce the appeal of riskier assets like BTC, as they make traditional investments more rewarding. The recent yield surge has raised concerns, pushing Bitcoin prices lower.

As borrowing costs climb, Bitcoin’s role as an inflation hedge loses traction, prompting more sell-offs. Broader economic factors, including tighter monetary policies, add to the bearish sentiment. With no clear signs of yields declining, Bitcoin’s recovery could remain challenging in the short term.

HUGE #BITCOIN BEARISH DIVERGENCE!🚨 pic.twitter.com/k2aojQaCuH

— Bitcoin Buffalo (@bitcoinbuffalo) December 20, 2024

Key Bitcoin Levels To Watch – December 22

As of now, the market structure of Bitcoin is now bearish. BTCUSD shows a bearish outlook as the price has fallen below the 9-day SMA at $100,770, confirming downward momentum. The RSI has dropped to 47.10, suggesting growing bearish pressure and room for further decline.

The breakdown of the ascending trendline support targets the $90,000 psychological level and further towards $88,720 if selling continues. A failure to hold above $85,010 could open the door for deeper retracements toward $73,840 or even $66,780.

BTCUSD Key Levels

Resistance Levels: $100,000, $108,340, $115,000 
Support Levels: $90,000, $73,840, $66,780

BTC/USD Metrics

Total Market Capitalisation: $3.32T
Bitcoin Market Capitalisation: $1.91T
Bitcoin Volume: $46.98B
Market Rank: #1

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