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US bond yields rebounded, putting pressure on market risk appetite, and bitcoin continued to be bearish

发布时间：2022-08-25 浏览：127

Yesterday (Wednesday), bitcoin fell by more than 6%, along with the decline in the U.S. stock market, in which the Nasdaq 100 index fell 0.74%. This price trend shows that with the Federal Reserve's table contraction in June, the market's concern about the U.S. economic recession is still largely affecting risk appetite.

To calm market sentiment, Thomas Bajin, President of the Federal Reserve Bank of Richmond, said on Fox business channel that the economic data had not shown signs of recession.

Yesterday, the sell-off in the bond market remained strong, with the 10-year yield of the United States rising by 7 basis points and the 10-year yield of Australia rising by 12 basis points. As higher yields put pressure on the valuation of stocks, the continued rise in yields will further curb market sentiment.

Australia announced on Wednesday that its first quarter GDP grew by 0.8% month on month, higher than the expected 0.7%; The year-on-year growth rate of GDP in the first quarter was 3.3%, higher than the expected 3%, indicating that the country's economy remained in good condition.

At 09:30 this morning (gmt+08:00), Australia's trade surplus in goods and services in April was a $10.495 billion, of which imports decreased by 1% month on month and exports increased by 1% month on month.

Bitcoin technology analysis

Bitcoin fell by 15.61% in May and has fallen by nearly 7% in June so far. In terms of technology, the price has fallen below the 20 day moving average, MACD and RSI show bearish signals, and bitcoin may fall again in the future, testing the low point in 2021 (27734).