Posted 4/3/2024, 5:06:00 AM
Bitcoin Drops Below $67,000 as Rising Yields Dampen Crypto Rally
- Bitcoin price drops to around $66,000 as rising Treasury yields reduce risk appetite
- Broader crypto market sees weakness, with CoinDesk 20 Index down 0.6%
- Bitcoin futures funding rates and open interest decreased, signaling potential end of 2-month rally
- Traders digest possibility of Fed delaying rate cuts until later this year
- Some technical indicators, like BTC falling below 20-day moving average, suggest recent downturn could mark end of rally
