Risk assets continue to come under pressure as bitcoin falls below $40,000 for the first time in nearly a month

Bitcoin fell through $40,000 on Monday for the first time since March 16, due to global macro risks.

On Monday, the 10-year U.S. bond yield touched 2.78%, a 3-year high, and it continued to climb 2.82% during Tuesday's Asian session.

In general, when U.S. bond yields rise, risk assets tend to fall. The Nasdaq fell more than 2% on Monday, and bitcoin, which is highly correlated with tech stocks, followed suit.

In addition to bitcoin, other cryptocurrencies were also down en masse, with BNB down 5%, ethereum down 6.8% and dogcoin down 9.6%.