By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

News Junction

Notification Show More
Font ResizerAa
  • Home
  • World News
    World NewsShow More
    Asian markets stagger into weekend as trade rally runs out of legs
    Asian markets stagger into weekend as trade rally runs out of legs
    May 16, 2025
    Baby KJ was born with a rare, deadly disease. Doctors designed a fix – just for him
    Baby KJ was born with a rare, deadly disease. Doctors designed a fix – just for him
    May 16, 2025
    FIFA president Gianni Infantino criticised by European football chiefs over decision to join Donald Trump tour | World News
    FIFA president Gianni Infantino criticised by European football chiefs over decision to join Donald Trump tour | World News
    May 16, 2025
    Arctic Worries: Melting Ice, and a Russia-China Partnership
    Arctic Worries: Melting Ice, and a Russia-China Partnership
    May 16, 2025
    Largest US retailer Walmart warns of price hikes because of tariffs | Trade War News
    Largest US retailer Walmart warns of price hikes because of tariffs | Trade War News
    May 15, 2025
  • Business
    BusinessShow More
    Ukraine blows up bridges to consolidate its positions in Russia
    Ukraine blows up bridges to consolidate its positions in Russia
    August 18, 2024
    Commentary: AI phones from Google and Apple will erode trust in everything
    Commentary: AI phones from Google and Apple will erode trust in everything
    August 18, 2024
    The most famous Indian Dishes – Insights Success
    The most famous Indian Dishes – Insights Success
    August 18, 2024
    Life on the road as a female long rides cyclist
    Life on the road as a female long rides cyclist
    August 18, 2024
    UK inflation rises to 2.2%
    UK inflation rises to 2.2%
    August 18, 2024
  • Cryptocurrency
    CryptocurrencyShow More
    Crypto’s lack of ‘frothy use case’ a good sign: WisdomTree exec
    Crypto’s lack of ‘frothy use case’ a good sign: WisdomTree exec
    May 16, 2025
    Tornado Cash dev Roman Storm trial goes ahead with slight trim
    Tornado Cash dev Roman Storm trial goes ahead with slight trim
    May 16, 2025
    Bitcoin to outperform gold in second half of 2025: JP Morgan
    Bitcoin to outperform gold in second half of 2025: JP Morgan
    May 16, 2025
    FTX Token surges 14% ahead of B creditor distribution
    FTX Token surges 14% ahead of $5B creditor distribution
    May 16, 2025
    Could Ruvi AI (RUVI) Be the Next Dogecoin (DOGE)? Analysts Suggest it Will Skyrocket by 20,000% During Altcoin Season
    Could Ruvi AI (RUVI) Be the Next Dogecoin (DOGE)? Analysts Suggest it Will Skyrocket by 20,000% During Altcoin Season
    May 16, 2025
  • Technology
    TechnologyShow More
    How to Improve Your Spotify Recommendations
    How to Improve Your Spotify Recommendations
    August 18, 2024
    X says it’s closing operations in Brazil
    X says it’s closing operations in Brazil
    August 18, 2024
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    August 18, 2024
    Scientists Want to See Videos of Your Cat for a New Study
    Scientists Want to See Videos of Your Cat for a New Study
    August 18, 2024
    OpenAI’s new voice mode let me talk with my phone, not to it
    OpenAI’s new voice mode let me talk with my phone, not to it
    August 18, 2024
  • Entertainment
  • Sports News
  • People
  • Trend
Reading: Bitcoin price below $28k- analyst says BTC on “knife’s edge”
Share
Font ResizerAa

News Junction

  • World News
  • Business
  • Technology
  • Cryptocurrency
  • Trend
  • Entertainment
Search
  • Recent Headlines in Entertainment, World News, and Cryptocurrency – NewsJunction
  • World News
  • Business
  • Cryptocurrency
  • Technology
  • Entertainment
  • Sports News
  • People
  • Trend
Have an existing account? Sign In
Follow US
News Junction > Blog > Cryptocurrency > Bitcoin price below $28k- analyst says BTC on “knife’s edge”
Bitcoin price below k- analyst says BTC on “knife’s edge”
Cryptocurrency

Bitcoin price below $28k- analyst says BTC on “knife’s edge”

Published August 17, 2023
Share
3 Min Read
SHARE

Contents
Analyst says Bitcoin on “knife’s edge”BTC down as real yields riseShare this articleCategoriesTags
  • Bitcoin price fell to lows of $27,740 across major exchanges on Thursday, the lowest since June.
  • Stocks have also slipped after the latest Fed meeting.
  • Meanwhile, real yields have jumped to recent highs.

Bitcoin has traded to below $28,000 again, with Thursday’s dip seeing the flagship cryptocurrency’s value hit lows of $27,744 across major exchanges.

The broader crypto market was also shedding gains as top altcoins declined to pull the total crypto market cap down over 3% to $1.15 trillion.

Analyst says Bitcoin on “knife’s edge”

At the time of writing, BTC was trading near $27,915, roughly 3.7% down in the past 24 hours. Bitcoin has lost 5% of its value in the past week and the move to its lowest levels since June has bulls looking at a potential flip even lower.

Christopher Jaszczynski, a crypto trader and analyst going by MMCrypto on X (formerly Twitter), shared the chart below showing Bitcoin price performance. It shows BTC back at a key trendline that has acted as support since early this year. He says the benchmark cryptocurrency is trending at a “knife’s edge.”

#BITCOIN ON KNIFES EDGE ?!!!!!! pic.twitter.com/DuzeCMYikW

— MMCrypto (@MMCrypto) August 17, 2023

BTC down as real yields rise

Bitcoin’s slip to below $28k comes as the stock market also witnessed jittery reaction after Wednesday’s Federal Reserve commentary. Market observers say the Fed is likely to see further interest rate hikes as necessary and that has investors on edge.

On Thursday, equities saw lackluster movement as Treasury yields climbed to recent highs.

The US 10-year Treasury yield was 6.6 points up to 4.324% while yield on the US 30-year Treasury lifted 6.1 basis points to 4.42%, tracking highs seen in 2009.

With higher interest rates a negative trigger for risk asset investments such as Bitcoin, fresh bearish moves are likely. Market analyst TXMC shared the below observation as real yields ripped.

$SPX and 10yr Real Yields

Observe how the entire equity run from October to July occurred with real yields capped below their highs, and how each break higher incurred a selloff.

Then observe real yields today relative to said cap. pic.twitter.com/E6cvdQjTkD

— ???? (@TXMCtrades) August 17, 2023


Share this article

Categories

Tags

#Bitcoin #price #28k #analyst #BTC #knifes #edge

- Advertisement -
TAGGED:28kAnalystBitcoinBTCEdgeknifesprice
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article 6 fintech investors sound off on AI, down-rounds and what’s ahead 6 fintech investors sound off on AI, down-rounds and what’s ahead
Next Article Dolphins QB Tua Tagovailoa challenged reporters to repeat a play call. It didn’t go well Dolphins QB Tua Tagovailoa challenged reporters to repeat a play call. It didn’t go well
- Advertisement -

Latest Post

Crypto’s lack of ‘frothy use case’ a good sign: WisdomTree exec
Crypto’s lack of ‘frothy use case’ a good sign: WisdomTree exec
Cryptocurrency
Asian markets stagger into weekend as trade rally runs out of legs
Asian markets stagger into weekend as trade rally runs out of legs
World News
Tornado Cash dev Roman Storm trial goes ahead with slight trim
Tornado Cash dev Roman Storm trial goes ahead with slight trim
Cryptocurrency
Baby KJ was born with a rare, deadly disease. Doctors designed a fix – just for him
Baby KJ was born with a rare, deadly disease. Doctors designed a fix – just for him
World News
Bitcoin to outperform gold in second half of 2025: JP Morgan
Bitcoin to outperform gold in second half of 2025: JP Morgan
Cryptocurrency
FTX Token surges 14% ahead of B creditor distribution
FTX Token surges 14% ahead of $5B creditor distribution
Cryptocurrency
- Advertisement -

You Might Also Like

Ex-OpenSea Executive Nate Chastain Gets 3 Months in Prison for Insider Trading
Cryptocurrency

Ex-OpenSea Executive Nate Chastain Gets 3 Months in Prison for Insider Trading

August 23, 2023
Former SEC Chief Points To Ongoing US Crypto “Regulatory Onslaught” Amidst New Fed Program
Cryptocurrency

Former SEC Chief Points To Ongoing US Crypto “Regulatory Onslaught” Amidst New Fed Program

August 11, 2023
Celsius Makes Good On Promise, Begins Distributing  Billion To Creditors
Cryptocurrency

Celsius Makes Good On Promise, Begins Distributing $3 Billion To Creditors

February 1, 2024
Bitcoin Price Analysis: Dominant Technicals – 20 August 2023
Cryptocurrency

Bitcoin Price Analysis: Dominant Technicals – 20 August 2023

August 21, 2023

About Us

NEWS JUNCTION (NewsJunction.xyz) Your trusted destination for global news. Stay informed with our timely and accurate reporting on diverse topics, including politics, technology, science, entertainment, sports, and more. Count on us for unbiased and reliable updates at your fingertips.

Quick Link

  • About
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact

Top Categories

  • World News
  • Business
  • Technology
  • Entertainment
  • Cryptocurrency
  • Sports News
  • Trend
  • People

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

    © 2023 News Junction.
    • Blog
    • Advertise
    • Contact
    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?