Why Bitcoin (BTC) Show Negative Momentum Trend??????

Bitcoin faced a notable downturn as U.S. stock markets kicked off the week on a weaker note. The leading cryptocurrency, which had surged past $69,000 earlier

Bitcoin encountered selling pressure on Monday evening, slipping below the $67,000 threshold after clocking highs of $69,000 earlier in the day. The cryptocurrency had seen a strong rally last week, surging past the key resistance level of $60,000. However, the gains were capped as U.S. stock markets opened the new trading week on a weaker note.

Bitcoin opened the evening session at $69,500 before facing selling pressure. The cryptocurrency slid below the $67,000 threshold as the trading session progressed. At press time, Bitcoin was trading at approximately $66,840, down by 3.6% over the past 24 hours.

The broader trend in U.S. equity markets also saw major indices opening the week with losses. The S&P 500 recorded a decline of 0.65%, while the Dow Jones and Nasdaq Composite opened the session with drops of 0.8% and 0.6%, respectively.

Investors are keeping a close eye on the upcoming earnings reports of major corporations, which could influence the markets. The reports are expected to provide insights into the health of the U.S. economy and the impact of inflation.

Meanwhile, U.S. 10-year Treasury bond yields jumped by nine basis points to reach 4.168%. This rise in yields comes as investors speculate on the Federal Reserve's plans to reduce interest rates.

According to Sam Stovall, Chief Investment Strategist at CFRA, the rising bond yields indicate that investors believe the Fed may delay its plans. With the economy remaining resilient, Stovall noted that bringing inflation down to the Fed’s 2% target might prove more challenging than previously anticipated.

A recent analysis from Goldman Sachs also sparked conversation on Wall Street. The bank's strategists predicted that over the next decade, the S&P 500 will likely deliver an annual nominal return of just 3%, a significant drop from the 13% average of the past 10 years.

The report further highlighted a 72% chance that the index will underperform U.S. Treasury bonds by 2034, cautioning investors to brace for lower stock market returns in the coming years.