BTC price falls below $68,000 as 10-year Treasury yield nears 1-year high of 4.5%
Bitcoin dropped below $68,000, triggering over $50 million in long liquidations amid rising Treasury yields and geopolitical concerns.Summary
Bitcoin's price declined by 2% over 24 hours, falling below $68,000 and causing over $50 million in long liquidations, primarily from Bitcoin positions. A liquidation heatmap suggests a potential short-term downside target near $66,000. Bearish sentiment is further indicated by negative funding rates. Macroeconomic factors are contributing to the downturn, as the 10-year U.S. Treasury yield approaches 4.5%, making risk assets like crypto less appealing. Increased bond market volatility (MOVE index up 18%), rising oil prices due to Middle East conflict and Russian supply disruptions, and a strengthening DXY index are all creating headwinds for Bitcoin. Additionally, institutional demand appears to be cooling, evidenced by $171.12 million in outflows from U.S. spot Bitcoin ETFs on Thursday.
(Source：CoinDesk)