Rising US Bond Yields and a Strengthening US Dollar Put Pressure on Risk Assets Such as Cryptocurrency

BlockBeats News, March 27th, according to CoinDesk, Bitcoin dropped below $68,000, a 2% decrease in 24 hours. The 48-hour liquidation heat map shows a significant liquidity concentration zone below $66,000, indicating a possible further drop in Bitcoin in the short term. In terms of funding rates, the perpetual contract funding rate has turned negative, with shorts paying fees to longs, another reflection of the market's bearish sentiment.

The macro situation continues to deteriorate. The U.S. 10-year Treasury yield is approaching 4.5%, the highest level since July last year, reducing the attractiveness of risk assets such as cryptocurrencies. The MOVE index, measuring volatility in the U.S. bond market, has risen 18% in the past 24 hours, indicating increased uncertainty. Meanwhile, Ukraine's disruption of Russian oil flow has disrupted Trump's plan to ease supply tensions, with Brent crude and WTI crude both rising by about 3%. The U.S. Dollar Index (DXY) has risen to 100, further suppressing risk assets.