Bitcoin has fallen below its 200-day moving average, dropping to $106,900, as the cryptocurrency faces a weekly loss of 7%. This decline is attributed to over $500 million in ETF outflows and a broader risk-averse sentiment in the market. Other major cryptocurrencies, including XRP, SOL, and ETH, have also experienced significant weekly losses ranging from 9% to 12%. The downturn in the crypto market coincides with U.S. 10-year Treasury yields reaching 3.94%, the lowest level since April, amid ongoing economic and banking concerns. Technical indicators suggest that Bitcoin could potentially fall below the $100,000 mark if current trends continue.
Bitcoin Drops Below 200-Day Moving Average Amid Market Turbulence
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