The arbitrage close position of US Treasuries has triggered market panic, and BTC long positions may face large-scale liquidation at $73,800 to $74,400.

PANews, April 9 - According to CoinDesk, as the "Basis Trade" liquidation wave hits the U.S. Treasury market, the yield on the 10-year Treasury bond soared to 4.5%, while the 30-year yield approached 5%. The tightening market liquidity has significantly pressured risk assets. Analysis company Hyblock warned that if BTC falls to the range of $73,800-$74,400, it will trigger large-scale liquidation of long positions, exacerbating downward fluctuations. Hyblock also pointed out that the support below is around $70,000, and if it breaks, it may trigger more stop loss and liquidation.