Crypto Market Struggles as Bitcoin and Ethereum Face Resistance

Bitcoin and Ether experienced moderate losses as the US Dollar Index rose with Treasury yields, indicating the market's comfort with the Federal Reserve's liquidity tightening cycle. The DeFi dominance index remained steady at 4.3%. The yield on the two-year Treasury note gained nearly five basis points to 4.16%, and the yield on the 10-year note rose to its highest level in a month at 3.54%. Traders priced an 85% probability that the Fed will raise rates by a quarter of a percentage point to 5% to 5.25% next month.