Bitcoin Price Drops Below $68,000 Amid Rising Treasury Yields

The cryptocurrency market is experiencing a downturn as Bitcoin's price falls below $68,000. According to recent data, approximately $50 million in long positions were liquidated within one hour, with Bitcoin accounting for the majority of these losses.

The rise in 10-year US Treasury yields and strengthening US dollar are contributing factors to this decline, putting pressure on risk assets such as cryptocurrencies and related stocks.