Analysis: Bitcoin held above $71,000 despite a stronger dollar, oil prices, and US Treasury yields.

Despite macroeconomic pressures from a stronger dollar, rising oil prices, and climbing US Treasury yields, Bitcoin has remained resilient, holding above $71,000. Data shows that the US Dollar Index (DXY), a measure of dollar strength, has climbed back above 100, the US 10-year Treasury yield has risen above 4.2%, and Brent and WTI crude oil prices are nearing $100 per barrel. Market concerns about inflation and rising interest rates have intensified. However, since the escalation of the Middle East conflict on March 1, Bitcoin has remained one of the best-performing macro assets. In the crypto-related stock market, Strategy (MSTR), a publicly traded company holding cryptocurrencies, rose about 1% pre-market after raising approximately 11,000 BTC this week through the issuance of perpetual preferred securities. Crypto exchange Coinbase (COIN) rose about 2%, while some Bitcoin mining companies transitioning to AI businesses, such as IREN and Cipher Digital, saw slight declines. (CoinDesk)