Bitcoin price experienced a pullback from its all-time high, dropping to below $95,000 due to concerns over the bond market. The sell-off in the bond market, driven by rising yields, indicates expectations of a hawkish stance by the Federal Reserve. The release of the Federal Reserve minutes and nonfarm payroll numbers could further impact the bond market. Some analysts believe that bond yields may continue to rise due to inflationary pressures. Despite the volatility caused by bond market concerns, legendary trader Peter Brandt remains optimistic about Bitcoin's longer-term outlook. Bitcoin is currently forming a bullish pennant pattern and remains above the 50-day moving average, indicating a potential strong breakout in the next few weeks. The key target level to watch is $122,000.



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