The U.S. 2-year Treasury yield climbed to 4.734%, its highest level in 26 months, while the 10-year yield threatens to break above the 6% threshold next year, putting growing pressure on risk assets such as bitcoin. The U.S. Dollar Index crossed 100 for the first time in over four weeks, which could reduce global liquidity and demand for cryptocurrencies. Bitcoin’s key support level sits around $70,000: a breakdown below this threshold could trigger significant selling pressure and liquidations. Despite these macroeconomic headwinds, traders continue to bet on a bullish October rally, though the broader setup remains tilted toward caution.
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