Bitcoin Holds Above $71,500 as Dollar Strength and Rising Yields Weigh on Equities

Bitcoin traded above $71,500 on Friday, showing resilience even as a stronger U.S. dollar, higher Treasury yields and elevated oil prices created headwinds for traditional markets.

The largest cryptocurrency has held steady despite macro conditions that often pressure risk assets. A rising dollar typically tightens global liquidity, which can weigh on both equities and digital assets. Meanwhile, oil prices remain high — with Brent crude and West Texas Intermediate trading close to $100 per barrel — fueling inflation concerns and reinforcing expectations that interest rates may remain elevated.

Higher borrowing costs generally reduce the appeal of riskier investments, yet bitcoin has remained relatively stable. Since geopolitical tensions in the Middle East intensified on March 1, the cryptocurrency has emerged as one of the stronger-performing macro assets.

Recent trading patterns also stand out. In the weeks since the conflict escalated, Fridays have often seen bitcoin decline by roughly 3%, though that pattern has not repeated in the latest session.

The U.S. Dollar Index (DXY) climbed above 100, its highest level since late November, reflecting renewed strength in the U.S. currency against major global peers. Treasury yields also moved higher, with the benchmark 10-year U.S. Treasury yield rising past 4.2%, signaling tighter financial conditions and higher borrowing costs.

Equities, by contrast, showed little momentum. The Invesco QQQ Trust (QQQ), which tracks the Nasdaq-100, was largely unchanged in recent trading.

Among crypto-related stocks, Strategy (MSTR) — the largest publicly traded corporate holder of bitcoin — gained about 1% in pre-market trading. The company recently added roughly 11,000 BTC this week using proceeds from its perpetual preferred security Stretch (STRC).

Friday also marked the ex-dividend date for STRC, pushing the security slightly below its $100 par value to around $99.50.

Elsewhere in the crypto sector, bitcoin miners pivoting toward artificial intelligence infrastructure — including IREN (IREN) and Cipher Digital (CIFR) — opened modestly lower, while crypto exchange Coinbase (COIN) rose roughly 2%, outperforming the broader equity market.