A personal blog about money, markets and crypto
Bitcoin fell 4.42% to $68,377 on Nov. 13 (CoinGecko). The main reason: money got more expensive, as the US dollar index rose to 103.38 and the 10-year Treasury yield reached 5.15%. That pressure turned into forced selling, and CoinDesk reports more than $1.6 billion in leveraged bets were liquidated as BTC hit a 12-week low.
The Ripple Stellar altcoin outlook is grim: XRP has lost 25.73% in 30 days, per CoinGecko data. Stellar (XLM) is down 22.16% over the same stretch, and both fell harder than Bitcoin’s 17.06%, because a dollar at a 19-month high and 5.1% Treasury yields are pulling money out of the riskiest corners of crypto first.
The Federal Reserve bitcoin price impact is easy to see: BTC is down 14.52% in 30 days to $71,113. The 10-year Treasury yield hit 5.1% on Nov. 12 (Yahoo Finance) as traders priced in more Fed rate hikes, and a safe 5.1% return pulls money away from assets that pay nothing.
The bitcoin price post midterm elections is $73,559, down 7.97% in a week, per CoinGecko. The November 3 vote didn’t drive the slide. Spot bitcoin ETF outflows running four days straight (CoinDesk) and a 10-year Treasury yield sitting at 5.0% (Yahoo Finance) did. Your coins are only as safe as where you keep them, and the next few weeks come down to ETF flows, bond yields and Strategy’s exit from MSCI indexes at the …