Next Bitcoin accumulation phase may hinge on credit stress timing: Data - Source: CoinTelegraph

Bitcoin scratched new lows below $73,000 on Tuesday as data shows troubling macroeconomic challenges bubbling below increasingly volatile markets. New data highlights tightening credit conditions, even as the US debt and borrowing costs stay elevated, and one analyst said this gap between credit pricing and credit market stress may define Bitcoin’s price trajectory for the upcoming months.

Key takeaways:

• -The ICE BofA US Corporate Option-Adjusted Spread is near 0.75, its tightest level since the late 1990s.

• -US debt stands at $38.5 trillion, while the 10-year Treasury yield is 4.28%.

• -Bitcoin whale inflows to exchanges have risen, but the pace of onchain profit-taking is easing.

Story continues: https://cointelegraph.com/news/next-bitcoin-accumulation-phase-may-hinge-on-credit-stress-timing-data