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Bitcoin drops amid U.S.-Iran tensions
Bitcoin's value declined by 2.6% to approximately $77,180, influenced by escalating tensions between the United States and Iran and rising U.S. Treasury bond yields. This has increased concerns about investors' appetite for high-risk assets. Military activities between Washington and Tehran, along with oil prices exceeding $100 per barrel, have contributed to inflation and its impact on interest rates, further intensifying pressure on the cryptocurrency market. Additionally, the 10-year U.S. Treasury bond yields reached their highest level in three years, reflecting a more hawkish stance by the Federal Reserve. It is also anticipated that Bitcoin may have reached its lowest price in the current cycle, with a potential upward trend expected over the next two years.
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