Analysis: Bitcoin. Holds Above $71,000 Despite a Stronger U.S. Dollar, Higher Oil Prices, and Rising U.S. Treasury Yields
Svmuu News: Amid macroeconomic pressures from a strengthening U.S. dollar, rising oil prices, and climbing U.S. Treasury yields, Bitcoin has remained resilient, with prices holding above $71,000. Data shows that the U.S. Dollar Index (DXY), which measures the strength of the dollar, has reclaimed the 100 mark,the yield on the 10-year U.S. Treasury note has risen above 4.2%, and both Brent and WTI crude oil prices are nearing $100 per barrel, intensifying market concerns over inflation and rising interest rates. However, since the escalation of the Middle East conflict on March 1, Bitcoin has remained one of the best-performing macro assets.Among crypto-related stocks, Strategy (MSTR), a publicly traded company holding Bitcoin, rose about 1% in pre-market trading; the company raised funds this week by issuing perpetual preferred securities to increase its Bitcoin holdings by approximately 11,000 BTC. Crypto exchange Coinbase (COIN) rose about 2%,while mining firms IREN and Cipher Digital—both of which are transitioning to AI-related businesses—Bitcoin, saw slight declines. (CoinDesk)
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