Bitcoin Drops Below $76,500 Amid Rising Geopolitical Tensions and Treasury Yields

Following US military strikes on Iranian targets, Brent crude oil prices surpassed $93 per barrel and WTI approached $90, pushing 10-year US Treasury yields toward 4.8%. This shift in the macro environment pressured risk assets, causing Bitcoin to fall below $76,500, marking a 1% decline overnight and a 3% drop over the past week. Coinglass data indicates that short positions currently account for 51.5% of taker volume. While total open interest remains around 700,000 BTC, ETH futures open interest has risen alongside price declines, suggesting short accumu