Bitcoin fell by 3% in 24 hours, dropping below $67,000 for the first time since March 9. The decline is attributed to rising US Treasury yields and a stronger dollar, which weigh on risk assets like cryptocurrencies. Over $50 million in long liquidations occurred within an hour, with bitcoin accounting for most of them. This suggests that prices may fall further due to significant liquidity clusters around $66,000.
The decline also affected crypto-related stocks, such as Circle Internet and Coinbase. Traders who hold long positions are betting on price increases, but liquidations occur when exchanges close leveraged trades due to insufficient margin. The 48-hour liquidation heatmap shows a large cluster of forced liquidations below $66,000, signaling potential downside for bitcoin.
Macro conditions have worsened with the Middle East conflict progressing and interest rates rising. The US 10-year Treasury yield is nearing its highest level since July, making risk assets less attractive. This has led to increased uncertainty in the market, as measured by the MOVE index’s 18% rise over the past 24 hours.
Oil prices have also risen due to disruptions in Russian oil flows. The strengthening dollar and rising interest rates make it challenging for cryptocurrencies like bitcoin.
Source: https://www.coindesk.com/markets/2026/03/27/bitcoin-falls-below-usd68-000-as-10-year-treasury-yield-nears-1-year-high-of-4-5