Bitcoin price can rise with low American bonds, fear and greed index

The fixed bitcoin price maintains a decisive support level of $ 80,000 as the risk of trade related to trade continues.

Bitcoin (BTCIt was circulated at $ 83,230 on Friday morning, which is a level that he maintained during the past few days. This level represents a profit of 9 % of the lowest point in March.

Bitcoin’s performance outperformed the US stock market. The Dow Jones index fell by more than 1080 points on Friday, after it decreased more than 1000 points the day before. It has now decreased by 13 % of the altitude of 2024, hovering near the levels that were last seen in August 2023.

Other indicators have performed worse. NASDAQ 100 officially entered the bear market, as more than 20 % decreased from its annual peak. S&P 500 and Russell 2000 also published significant decreases.

However, two of the overall catalysts in Bitcoin and stocks may help find support. First, the bond market increased this week, with the revenue of its downward direction. The US Treasury’s return for 10 years decreased to less than 4 % for the first time in months. Meanwhile, revenues decreased for 30 years, 2 years to 4.40 % and 3.57 %, respectively.

Fallen returns indicate increasing fears of potential stagnation, which may push the federal reserve to intervene. Historically, the Federal Reserve has two main tools in the playing book: interest rate discounts and quantitative mitigation. Both were historically bullish of risk origins such as bitcoin and stocks-as it appears during the Covid-19 and the global financial crisis.

Another potential catalyst for bitcoin is the increasing fear in the market. The CNN FEAR and Greed index fell to the 4th extremist fear area, a decrease of 50 in January, highlighting the wide panic among the market participants.

Meanwhile, the fear and greed index fell to 25, firmly in the fear area. Historically, both stocks and encryption markets tend to gather when they reach their climax, echoing the famous Warren Buffett quote: “Be greedy when others are afraid and fear when others are greedy.”

Technical analysis of bitcoin prices

The weekly graph shows that Bitcoin is still in a bullish direction despite the recent decline. It is circulated above the minimum thunderbolt canal that has been present since October 2022.

BTC has also held over the moving average for 50 weeks, another sign that the bulls are still in control, at the present time. Therefore, there is a strong possibility that Bitcoin resumes its upward direction as soon as the current wave of panic declines in the market.