Rising U.S. bond yields and a stronger U.S. dollar put pressure on risky assets such as cryptocurrencies

According to CoinDesk, Bitcoin fell below $68,000, down about 2% in 24 hours. The 48-hour liquidation heat chart shows a large liquidity concentration below the $66,000, indicating that Bitcoin may fall further in the short term. In terms of capital rates, the capital rates for perpetual contracts have turned negative, and short positions have to pay fees to long positions, which is another reflection of market bearish sentiment. The macro level continues to deteriorate. The yield on the U.S. 10-year Treasury bond is approaching 4.5%, the highest level since last year, making risky assets such as cryptocurrencies less attractive. The MOVE index, which measures volatility in the U.S. bond market, has risen 18% in the past 24 hours, indicating rising uncertainty. At the same time, Ukraine's interference in Russian oil flows disrupted Trump's plan to ease supply tensions, with Brent crude and WTI crude both rising by about 3%. The US dollar index DXY rose to 100, further suppressing risky assets.