The Bitcoin (BTC) exchange rate on Monday, July 10, fell to $30,150.
The pressure on the cryptocurrency has been increasing since the end of last week. Investors are moving capital into US Treasury bonds, the yield of which has increased sharply.
Following the stock market, digital currencies also found themselves in the correction zone. Ethereum (ETH) at the time of publication of this review was trading at $1861. Binance Coin (BNB) dropped to $241.7 while Cardano (ADA) and Dogecoin (DOGE) dropped 2% to $0.285 and $0.064, respectively.
According to analyst Noel Achison, investors prefer to accumulate funds in US currency.
Such a trend was outlined in April-May, and the first victims were the shares of IT companies, which faced an outflow of capital at the beginning of the summer.
Now, Bitcoin may face the same problem if traders do not change tactics.
Atchison does not rule out BTC falling below $30,000 as early as this week as the pressure intensifies. The market is gradually coming under the control of the bears.
The nearest cryptocurrency support zones formed at $29,850 and $29,400.
The zones of strong resistance are the levels of $30,500 and $30,750.
