🚨 MACRO FACTORS PRESSURE CRYPTO: OIL, YIELDS AND A STRONG DOLLAR DRAG DOWN THE MARKET
Bitcoin fell back below $84,000 as a combination of macro factors increased pressure on risk assets.
🛢️ Brent: above $101
📈 10Y Treasury: above 5.3%
💵 DXY: above 102
₿ BTC: below $84,000
The deteriorating outlook also triggered heavy deleveraging:
💥 Around $547 million in crypto positions were liquidated over 24 hours, with most concentrated in long positions. CoinGlass data cited by The Block showed around $487 million in longs.
The move comes amid rising oil prices linked to tensions in the Middle East, while elevated U.S. yields and a stronger dollar are curbing appetite for higher-risk assets.
📌 The key focus now: minutes from the Fed’s latest meeting will be closely watched. A more hawkish tone could keep yields and the dollar under upward pressure, prolonging weakness in the crypto market.
$ETH
Bitcoin fell back below $84,000 as a combination of macro factors increased pressure on risk assets.
🛢️ Brent: above $101
📈 10Y Treasury: above 5.3%
💵 DXY: above 102
₿ BTC: below $84,000
The deteriorating outlook also triggered heavy deleveraging:
💥 Around $547 million in crypto positions were liquidated over 24 hours, with most concentrated in long positions. CoinGlass data cited by The Block showed around $487 million in longs.
The move comes amid rising oil prices linked to tensions in the Middle East, while elevated U.S. yields and a stronger dollar are curbing appetite for higher-risk assets.
📌 The key focus now: minutes from the Fed’s latest meeting will be closely watched. A more hawkish tone could keep yields and the dollar under upward pressure, prolonging weakness in the crypto market.
$ETH