Bitcoin steadies amid rate and Iran-U.S. tensions
Bitcoin continued to fluctuate around the level of approximately $83,637, influenced by rising U.S. Treasury bond yields and tensions between Washington and Tehran. It temporarily surged to $85,000 over the weekend before retreating. The market is heavily affected by rising interest rates, especially with expectations of further hikes following upcoming U.S. employment data. Amid U.S. and Iranian sanctions, the USDT stablecoin, the largest stablecoin, has been linked to 84% of transactions involving Iranian wallets, as tensions persist over the use of cryptocurrencies to finance activities related to sanctions. Nonetheless, the prices of other digital currencies remained stable, with Ethereum rising by 1.8% and XRP by 1.6%.
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