U.S. Treasury Yield Surge Puts Pressure on Risk Assets

According to PANews, the U.S. Treasury market is experiencing a wave of 'basis trade' unwinding, leading to a sharp increase in yields. The 10-year Treasury yield has surged to 4.5%, while the 30-year yield is approaching 5%, exacerbating liquidity concerns and putting significant pressure on risk assets. Analysis firm Hyblock has issued a warning that if Bitcoin's price falls to the range of $73,800 to $74,400, it could trigger a large-scale liquidation of leveraged long positions, intensifying downward volatility. Hyblock also highlighted that there is support near $70,000, and a breach of this level could lead to further stop-losses and liquidations.