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

Under the macro pressures of a strong dollar, rising oil prices, and climbing U.S. Treasury yields, Bitcoin remains resilient, with prices staying above $71,000. Data shows that the U.S. Dollar Index (DXY), which measures the strength of the dollar, has re-established itself above 100, while the yield on the U.S. 10-year Treasury bond has risen above 4.2%. At the same time, Brent and WTI crude oil prices are nearing $100 per barrel, intensifying market concerns about inflation and rising interest rates. However, since the escalation of the Middle East conflict on March 1, Bitcoin has remained one of the best-performing macro assets.

In terms of crypto-related stocks, Bitcoin-holding company Strategy (MSTR) rose about 1% in pre-market trading, having raised funds this week through the issuance of perpetual preferred securities to increase its holdings by approximately 11,000 BTC. Cryptocurrency exchange Coinbase (COIN) increased by about 2%, while some Bitcoin mining companies transitioning to AI, such as IREN and Cipher Digital, saw slight declines.