According to ChainCatcher, citing CoinDesk, Bitcoin has fallen below $68,000, down about 2% in the last 24 hours. A 48-hour liquidation heatmap shows a large concentration of liquidity below $66,000, suggesting that Bitcoin may fall further in the short term.
Regarding funding rates, perpetual contract funding rates have turned negative, meaning short sellers must pay fees to long positions, further reflecting bearish sentiment in the market. The macroeconomic environment continues to deteriorate. The yield on the 10-year US Treasury bond is approaching 4.5%, its highest level since last year, reducing the attractiveness of risk assets such as cryptocurrencies. The MOVE index, which measures volatility in the US bond market, has risen 18% in the past 24 hours, indicating increased uncertainty.
Meanwhile, Ukraine's disruption of Russian oil flows has derailed Trump's plans to ease supply tensions, causing both Brent and WTI crude oil prices to rise by about 3%. The US dollar index (DXY) climbed to 100, further pressuring risk assets.
