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As fluctuations in risky assets intensify in global markets, cryptocurrency traders face a new period of uncertainty. The volatility in Bitcoin’s price, particularly with the testing of technical thresholds, raises concerns about liquidation risks. Additionally, rising U.S. Treasury yields are prompting investors to rethink their portfolio preferences. Increasing signs of stress in both traditional and digital assets highlight the importance of adopting cautious positions.
U.S. Treasury Yields on the Rise
Recent movements in the U.S. Treasury market are directly affecting global investor behavior. Notably, the approximately 70 basis point rise in 10-year bond yields indicates a significant reduction in risk appetite. Similarly, the rise in 30-year yields suggests a renewed search for long-term safe havens. These developments are cited as reasons for unwinding and restructuring carry trade positions.
Financial experts agree that surges in long-term bond yields could create stress in the credit and banking sectors. ForexLive analyst Justin Low points out that approaching a 5% yield for 30-year bonds could generate unexpected vulnerabilities across the market. The MOVE index, which tracks volatility in the U.S. Treasury market, has also reached its highest level since October 2023, supporting this view.
The movement of liquidity toward safe-haven assets is intensifying selling pressure on riskier assets. One of the areas feeling this pressure most acutely is the cryptocurrency market. Sudden price movements in Bitcoin 
$107,372 are making this fragile situation more apparent.
Critical Levels Tested in Bitcoin
Due to rising volatility, Bitcoin briefly tested levels below $75,000 before approaching $76,000 again. However, the potential for the price to stabilize around $74,000 poses serious risks for investors holding long positions. Analysis firm Hyblock Capital indicates that significant liquidation clusters exist in the $73,800-$74,400 range, warning that breaking these levels could trigger sharper declines.
According to Hyblock’s analysis, the liquidation risk is not limited to that level alone. Similar positioning can be found in the $69,800-$70,000 and $66,100-$67,700 ranges. The emergence of these clusters could lead to gradual downward pressure on prices, potentially exacerbating losses for leveraged traders.
Conversely, different resistance levels emerge for those taking short positions. Levels between $80,900-$81,000, $85,500-$86,700, and $89,500-$92,600 are identified as points likely to trigger counter-responses. If prices exceed these resistance zones, sudden surges and the closing of short positions could increase volatility upward.
