Bitcoin rallies back above $70,000 as US bonds stage recovery from $2.5 trillion loss

• Bitcoin fell below $68,000 as markets braced for President Trump’s 17-hour deadline on Iran and the Strait of Hormuz.
• Gold dropped into a bear market, down 22% from its record high, while gold and silver wiped out about $2 trillion in combined market value in just three hours.
• The bigger pressure point looks like the 10-year Treasury yield, which surpassed 5% and lost $2.5 trillion after rising 60 basis points in three weeks.