Live markets: Bitcoin, ether lead $1 billion liquidation losses as AI trade keeps going

Bitcoin and ether led about $1 billion in liquidation losses as the AI trade continued, according to CoinDesk. The report also flagged macro cross-currents: the U.S. two-year Treasury yield is testing a descending trendline from its October 2023 peak of 5.26%, with a breakout potentially tightening financial conditions and weighing on risk assets. Brent crude fell below $72.48 a barrel and WTI traded near $69 as tankers resumed passage through the Strait of Hormuz.