Analysis: Bitcoin remains above $71,000 despite the strengthening of the US dollar, oil prices, and US Treasury yields

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ChainCatcher reports that despite macro pressures from a strengthening dollar, rising oil prices, and climbing U.S. Treasury yields, Bitcoin remains resilient, holding above $71,000. Data shows the dollar index (DXY), which measures the strength of the dollar, has risen back above 100. The yield on the 10-year U.S. Treasury has increased to over 4.2%, while Brent and WTI crude oil prices are approaching $100 per barrel. Concerns about inflation and rising interest rates have intensified, but since the escalation of Middle East conflicts on March 1, Bitcoin has continued to be one of the best-performing macro assets.

In crypto-related stocks, publicly traded company Strategy (MSTR) rose about 1% in pre-market trading, having raised approximately 11,000 BTC this week through issuing perpetual preferred securities. Cryptocurrency exchange Coinbase (COIN) increased about 2%, while Bitcoin mining companies IREN and Cipher Digital, which are transitioning into AI businesses, saw slight declines.

BTC1.7%
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