Bitcoin Shrugs Off the Bad News – What Do Traders Think This Means?

Before the Consensus Catches Up

Bitcoin is unchanged from a week ago despite having faced several headwinds. The US 10-year yield rose 15 basis points over the past week, with roughly 0.5 additional rate hikes now priced in. Oil prices closed largely flat, likely reflecting a slowdown in US bombing activity against Iran. Still, oil prices are up 23% over the last month. The Nasdaq declined 1.5% on the week and is down 5% over the past month, with technical support now broken.

Below, we explain what this means for Bitcoin and how the latest developments around the US CLARITY Act could shape its path forward.

Bitcoin and Ethereum Implied Volatility is rising again. Is this bullish or bearish?