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The US Dollar Index approaches the 100 mark, combined with the US Treasury yields simultaneously breaking higher and breaking the downward trend, signaling clear downward pressure for the crypto market.
Core logic:
Cryptocurrencies are priced in USD; as the dollar strengthens and appreciates, more tokens can be purchased with the same amount of USD, naturally putting downward pressure on prices;
A strong dollar plus rising US Treasury yields will lead funds to preferentially flow back into USD cash and US Treasuries for safe-haven preservation, continuously pulling investment out of high-risk crypto assets, further driving the market down. $BTC