XRP and Ether Pressured as Investors Anticipate $70,000 Bitcoin Milestone

The $70,000 threshold emerges as the next key level to watch, aligning with the 200‑day moving average. A decisive break above this zone would lift Bitcoin above the range contested by buyers and sellers in March and April, a development Kuptsikevich argues could markedly alter market sentiment.

Traders have not yet reached that level. The Crypto Fear & Greed Index remains at 30, indicating a fear environment that has persisted since mid‑July, punctuated only by brief excursions into extreme fear.

Bond and energy markets are shaping overall market direction. U.S. 10‑year Treasury yields increased by six basis points on Monday, climbing to 4.71%. Consequently, Australian and New Zealand government bond prices drifted lower. Asian‑hour cash Treasury trading was suspended due to a public holiday in Japan.

Brent crude steadied at $87.73 per barrel after a 5% jump on Monday, spurred by President Donald Trump’s intensified rhetoric toward Iran and diminished expectations of a deal to reopen the Strait of Hormuz. Gold edged higher for a third consecutive session, surpassing $4,400 per ounce.

Rising oil prices feed into upcoming inflation data slated for release on Wednesday at 8:30 a.m. ET, contributing to the recent rally’s pressure on assets that typically benefit when interest‑rate hikes appear less likely.

Fund flows had been opposite until this week. U.S. spot Bitcoin funds attracted $865 million over five days through August 7, before recording a provisional outflow of $91 million on Monday.

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