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Bitcoin drops below $61,000 amid US-Iran tensions
The price of Bitcoin dropped by 3% to around $61,375, amid a downturn in the financial markets resulting from escalating tensions between the United States and Iran, which launched missile strikes and drone attacks on U.S. military bases in the Middle East. The escalation of hostilities has dampened expectations of a peace agreement between the two sides and increased pressure on stock and commodity markets, with oil prices rising and inflation data indicating that energy prices are likely to continue climbing, affecting U.S. interest rates.
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