US Treasury arbitrage liquidation triggers market panic, BTC bulls may face large-scale liquidation at $73800 to $74400

According to CoinDesk, with the coming of the "Basis Trade" unwinding tide in the US bond market, the yield of the US 10-year treasury bond bond soared to 4.5%, and the 30-year treasury bond was close to 5%. The market liquidity tension intensified, resulting in significant pressure on risky assets. Analyst firm Hyblock warns that if BTC falls to the range of $73800-74400, it will trigger a large-scale consolidation of long leveraged positions, exacerbating downward volatility. Hyblock also pointed out that the support below is around $70000, and if it falls below, it may trigger more stop losses and liquidation.