Cryptocurrency markets declined on Tuesday, driven by the rise in US yields and the US dollar, following hawkish commentary from US Federal Reserve Chairman Jerome Powell. Bitcoin, which broke below an uptrend that had been in play since mid-January, slipped below $22,000 before settling down about 1.5% for the day. Some experts predict that this downward trend could lead to a retest of February’s lows in the $23,000s, or even the January 18th low in the $20,300s. However, despite the uncertainty, options markets do not seem to indicate major near-term collapses in prices for Bitcoin.
