Bitcoin dropped under $67,000 due to tensions in the Middle East and rising treasury yields. It reached a low of $66,400, its lowest since March 9. Over $1.33 billion in liquidations occurred this week, reflecting heavy leveraged positions.
Adziima from Bitrue notes that macroeconomic risks, including oil price hikes and fears of sticky inflation, are pressuring Bitcoin. Rahman from Block Scholes adds that geopolitical headlines are influencing Bitcoin's trading.
10-year U.S. Treasury yields rose for four consecutive weeks, contributing to the decline. The U.S. dollar index rose 0.57%, further impacting risk assets.
Despite limited range, significant liquidations point to thin liquidity on the downside, raising concerns about potential drops to $67,000-$68,000. Experts anticipate heightened volatility and choppy price action, with potential relief contingent on easing macro pressures.