Bitcoin Dips Under $67K as Geopolitical Uncertainty, Treasury Yields Spook Traders
Bitcoin and the broader crypto market are experiencing losses as March ends, with Bitcoin hitting a low of $66,400—its lowest since March 9—and currently trading at $66,633, down 3.9% over 24 hours and 5.6% over the past week. This decline is mainly due to global risk-off sentiment driven by geopolitical tensions in the Middle East, which have also pushed oil prices higher and raised concerns about persistent inflation. Despite outperforming gold and U.S. stocks since the war began on February 28, Bitcoin fell over 6% from above $75,000, especially as the U.S. Federal Reserve maintained steady interest rates. Rising U.S. Treasury yields and a strengthening dollar continue to pressure risk assets. Over $1.33 billion in crypto has been liquidated this week, reflecting substantial leveraged positions above current Bitcoin prices with thinner liquidity below. Prediction markets show increased bearishness, assigning a 56% chance of Bitcoin falling to $55,000. Experts forecast continued near-term volatility and choppy trading, with the possibility of a relief rally if macro and geopolitical pressures subside.
