BlockBeats news, on March 27, according to CoinDesk, Bitcoin fell below $68,000, dropping about 2% in 24 hours. The 48-hour liquidation heatmap shows a significant concentration of liquidity below $66,000, suggesting that Bitcoin may decline further in the short term. In terms of funding rates, the perpetual contract funding rate has turned negative, with shorts needing to pay fees to longs, which is another reflection of the market’s bearish sentiment.
The macroeconomic environment continues to worsen. The yield on the U.S. 10-year Treasury bond approaches 4.5%, the highest level since July of last year, making risk assets like cryptocurrencies less attractive. The MOVE index, which measures volatility in the U.S. bond market, has risen 18% in the past 24 hours, indicating increasing uncertainty. Meanwhile, Ukraine’s disruption of Russian oil flow has derailed Trump’s plans to ease supply tensions, with both Brent crude and WTI crude rising about 3%. The U.S. dollar index DXY has also risen to 100, further pressuring risk assets.
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