Bitcoin stares over the precipice as inflation rises and bond yields break higher

An unexpected rise in inflation sent US 10-year bond yields rocketing higher, ending the day back up at 5%. AI stocks continued to rise relatively unperturbed but Bitcoin is still desperately trying to hold on to the last support of $73,800. Is it about to go over the precipice? Bitcoin breakout one way or the other Source: TradingView The short-term chart illustrates how weak Bitcoin is currently. Lower highs and lower lows continue to be made. As a comparison, AI stocks were slammed down over a period of about a week, but the last few days have seen them recover significantly. Perhaps traders are expecting the AI trade to turn bullish again. You cannot say that for Bitcoin.

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