Finance

The cryptocurrency market faced substantial downward pressure as Bitcoin fell toward the $70,000 threshold, triggering over $766 million in liquidations. This decline coincided with a record 11-session streak of net outflows from U.S. spot Bitcoin ETFs, totaling approximately $3.45 billion as capital rotated toward trending technology stocks.

Conflicting reports regarding peace negotiations between the U.S. and Iran have caused sharp fluctuations in global energy markets and Treasury yields. While Brent crude prices initially spiked on threats to the Strait of Hormuz, they later moderated as diplomatic discussions were reported to be ongoing.

The 10-year Treasury yield settled near 4.45% after a volatile period as investors prepared for the upcoming JOLTS job openings report. Market participants are closely monitoring these labor indicators to gauge future Federal Reserve policy, with some analysts pricing in the possibility of a rate hike later this year due to energy-driven inflation.