Bitcoin Back Down to $66K As Rising Treasury Yields Catch Investor Interest
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Bitcoin hovers near $66,000, with the CoinDesk20 Index signaling broader market weakness.
Crypto futures rates and open interest have decreased, signaling a potential end to a two-month rally.
Bitcoin {{BTC}} held on to losses during the Asian trading hours on Tuesday, trading at around $66,000, as traders digested resurgent Treasury yields and the possibility that the Fed might delay rate cuts until later this year.

At the time of writing, ether {{ETH}} changed hands above $3,300, while the CoinDesk 20 (CD20) was down 0.6% to 2,532.
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LUNC Terra Classic Enhancements Drive Growth
The introduction of IBC-Hooks opens doors for decentralized applications (dApps) to join the Terra Classic chain. Notably, the anticipated arrival of prominent dApps like Enterprise DAO holds potential to elevate network engagement and user adoption.

LUNC Burn Initiative Gains Momentum
The LUNC burn initiative has gained considerable traction, with 105.16 billion tokens burned according to data from Luncmetrics. Leading cryptocurrency exchanges and projects, notably Binance, have actively participated, burning over 50% of the total (over 53.48 billion LUNC tokens).
Strong Growth for LUNC and USTC
Recent Performance: Despite experiencing a minor 2.89% dip in the last 24 hours, LUNC has surged by 25.4% over the past week, reaching its current price of $0.0001597. Similarly, USTC has followed a similar growth trajectory, rising by 18.54% to its current price of $0.02985.
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