Bitcoin's Rally Stalls at $67,200 Amid Dollar Strength and Rising Yields

Bitcoin's rally stalled at $67,200, triggering a sharp 7% drop and causing roughly $330 million in liquidations from leveraged long positions. The selloff stood out because broader risk markets appeared to be holding up, with the Nasdaq 100 remaining near its all-time high.

The decline coincided with the US dollar strengthening and Treasury yields rising, putting pressure on non-yielding assets like Bitcoin and gold. Interest in AI-themed equities, however, continued to grow, with companies such as Intel seeing renewed momentum after a memorandum of understanding was signed between US President Donald Trump and Iran's President Masoud Pezeshkian.

The article notes that the macro backdrop is supportive for equities due to easing oil prices and upbeat US labor-market signals. However, crypto's performance depends less on these equity tailwinds and more on rates and the dollar, with the US 5-year Treasury yield staying around 4.21%.