Market Wrap: Bitcoin Stabilizes Ahead of Biden's Executive Order on Crypto

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.MARKET WRAP: U.S. President Biden is expected to issue an executive order on crypto this week - a potential source of market volatility. Here are key price levels to watch.

Ten-year Treasury yield daily close: 1.87%

Support levels can help traders identify price levels where a downtrend can be expected to pause because of a concentration of demand or buying interest. Once a support level is held and a break above resistance is confirmed, upside momentum tends to accelerate, setting the stage for an upcycle. Most short-term bitcoin holders are at a loss, having a cost basis of around $46,400, according to data compiled by. Long-term holders, however, have an estimated break-even point of about $39,200, which, if broken, could yield further downside toward $24,000.

 

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“U.S. President Biden is expected to utter some random jibberish.”

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