Bitcoin's Sharp Decline: Iran Tensions and Weak ETF Demand
— Forbes TR
Bitcoin sharply declined due to tensions in the Middle East.
Bitcoin fell to $76,729, closing the week negatively amid rising tensions in the Middle East and increased selling pressure.
- Bitcoin dropped 0.9% to $76,729 after approaching $78,000 over the weekend, pressured by U.S. operations against Iran.
- Ethereum fell by 0.3%, XRP by 0.7%, and Solana by 1.4%, while Dogecoin decreased by 1.3%; only Polygon saw a rise of 1.4%.
- Weak interest in spot Bitcoin ETFs and high bond yields have created a cautious atmosphere in the crypto market.
Geopolitical tensions in the Middle East and weak ETF demand could reduce investors' risk appetite, leading to selling pressure on Bitcoin and other crypto assets.