Bitcoin price forecast: BTC slips to $97,200 as strong dollar and high yields limit recovery
Bitcoin is trading near $97,240, down 6.0% over the past 24 hours, with a market capitalization of $1.93 trillion and a 24-hour trading volume of $114.15 billion. The price has moved between $96,170 and $103,737, reflecting pressure from persistent dollar strength and high Treasury yields that continue to suppress risk appetite.
- Treasury yields remain near highs, tightening global financial conditions.
- A strong dollar continues to weigh on Bitcoin and other speculative assets.
- Institutional inflows offer mild support, but the short-term bias stays modestly bearish.
Bitcoin under pressure as macro headwinds tighten
Bitcoin decline toward $97,000 mirrors the broader risk-off tone across global markets. The U.S. ten-year Treasury yield remains close to recent highs, reinforcing the view that policy loosening could take longer than expected. Higher yields typically raise opportunity costs for holding non-yielding assets like Bitcoin, thereby cooling speculative demand.
Meanwhile, the U.S. dollar index remains firm, reinforcing a defensive macro backdrop. Dollar strength has historically acted as a counterforce to crypto rallies, limiting global liquidity available for risk assets. With few new data releases this week, traders are positioning cautiously ahead of the next round of key U.S. inflation and labor market reports, keeping Bitcoin’s recovery attempts capped for now.
Experts weigh in on macro-driven Bitcoin sentiment
Anton Kharitonov, senior analyst at Traders Union, notes that Bitcoin’s pullback reflects the market’s fatigue after weeks of macro tightening. Until yields retreat or inflation data softens meaningfully, the crypto market will stay defensive.
Viktoras Karapetyants, head of research, adds, institutional flows turning positive is a key stabilizing signal, but these flows are not yet strong enough to offset the pressure from higher rates and a strong dollar.
Parshwa Turakhiya, strategist at Traders Union, comments that the macro framework keeps Bitcoin reactive rather than proactive. With no major data today, intraday moves are likely to follow Treasury yields and equity sentiment closely.
Technical view shows downside bias but oversold signals emerging
Bitcoin has slipped below all key moving averages, with the 20-day EMA at $100,459, 50-day EMA at $102,067, 100-day EMA at $103,213, and 200-day EMA at $105,135, all acting as resistance. The RSI at 26.59 indicates oversold conditions, suggesting that selling momentum may be stretched. Immediate support lies at $96,000, while a recovery above $99,000 would be needed to signal short-term stabilization.
Background and previous coverage
Earlier in the week, Bitcoin’s volatility was driven by geopolitical and macro headlines, from Taiwan’s reserve discussions to rising Treasury yields. Read our earlier reports to see how policy and yield cycles continue to steer short-term crypto performance.
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