Bitcoin Vulnerable To Rate Hike Fears
  The latest moves in crypto markets, in context Edited by Omkar Godbole October 27, 2021 Sponsored by  (Price data as of October 27 @ 11:30 UTC) If you were forwarded this newsletter and would like to receive it, sign up here.
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Market Moves by Omkar Godbole Bitcoin dropped below $59,000 early Wednesday, as risk sentiment in traditional markets soured, with Australia's core consumer price index reaching a six-year high in September. Bond Traders Price In Aggressive Rate Hikes  U.S. two-year yield (Source: TradingView) The yield on the two-year U.S. Treasury bond, which is more sensitive to rate hike/inflation expectations than the 10-year, rose above 2% early today, the highest since the coronavirus-induced crash of March 2020. The spike is perhaps indicative of bond traders anticipating aggressive rate hikes by the Federal Reserve.
Technician's Take by Omkar Godbole  Bitcoin's Head & Shoulders (H&S) Breakdown Bitcoin's hourly chart shows a head-and-shoulders breakdown (H&S), a bearish reversal pattern. Support is seen near $54,000  Bitcoin's hourly price chart (Source: TradingView)
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BOLO Be on the lookout for the following events today:
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A Message from CoinDesk  What will 2022 bring? Crypto 2022 is CoinDesk's ambitious effort to scope out what's next. This week it's Policy Week, a week devoted to exploring the complex ways governments are interacting with the cryptocurrency ecosystem, and how policy decisions or lack thereof will affect the year ahead. Read more here.
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Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.
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