From the perspective of the cryptocurrency market, whether Bitcoin can hold the $70,000 mark is indeed the focus. On-chain data shows that despite BTC prices dropping below $77,000 and turnover decreasing, high holders in the $93,000 to $98,000 range have not sold, with selling pressure mainly coming from short-term traders rather than panic liquidations.
This indicates that BTC's on-chain structure remains relatively healthy, and the market has not entered a state of complete collapse. However, the current combination of a declining stock market accompanied by rising treasury yields is a dangerous signal. If U.S. dollar export revenues decrease, buying in both treasury bonds and stocks will shrink, and risk assets may face systemic pressure. For Bitcoin, the support at the $70,000 threshold depends not only on on-chain data but is also closely related to macro liquidity. If a trade war leads to further tightening of global liquidity, BTC may find it difficult to stand alone.
This indicates that BTC's on-chain structure remains relatively healthy, and the market has not entered a state of complete collapse. However, the current combination of a declining stock market accompanied by rising treasury yields is a dangerous signal. If U.S. dollar export revenues decrease, buying in both treasury bonds and stocks will shrink, and risk assets may face systemic pressure. For Bitcoin, the support at the $70,000 threshold depends not only on on-chain data but is also closely related to macro liquidity. If a trade war leads to further tightening of global liquidity, BTC may find it difficult to stand alone.
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BTC
95,138.21
+0.07%