Bitcoin traded around $74,000 at Wednesday’s Wall Street open and did not follow rising US stocks. It stayed between its 21-week and 50-week moving averages, at $73,078 and $75,492, respectively, while the US 10-year bond yield reached 5.02% after higher-than-expected inflation data.
On Tuesday, short-term holders sent more than 47,000 BTC to exchanges at an unrealized loss. The source says this could signal more panic selling if those coins were sold; the transfers alone do not establish that they were.
