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Exchange reserves plunge to pre-$61K lows: 5 things to watch in Bitcoin this week

Hodlers are being patient amid warnings that a continuation of Bitcoin’s bull run may take “some time” thanks to mixed messages from on-chain indicators.
Bitcoin (BTC) sees a cautious start to the week as macro markets dither and Turkey’s currency loses 15% of its value overnight.After a disappointing weekend that featured a rejection at $60,000, Bitcoin has yet to impress traders, who are expecting sideways action in the coming days. Cointelegraph takes a look at five factors that could influence how Bitcoin price action evolves as a new week gets underway.All quiet among stocksThe picture across equities is one of hesitancy on Monday as concerns over bond yields remain and coronavirus bites.It has become a familiar picture for many, Asian markets opened with modest movement. A rise in economic activity will likely fuel bond worries with 10-year Treasury yields already at 1.7% in the United States after gaining rapidly in recent weeks.Taking a different tone, China revealed that it had more money to spend in financial easing, something which officials claim will reduce risk, rather than add to it.“This will not only provide positive incentives for economic players, but also help create an environment less likely to spawn financial risks,” Yi Gang, Governor of China’s central bank, the People’s Bank of China (PBoC), said at the weekend.At the same time, multiple jurisdictions are seeing a return to or continuation of coronavirus lockdown, amid anger at the lack of progress in lifting restrictions on individual …
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