Bitcoin Retreats Amid Geopolitical Tensions
Bitcoin experienced a downturn Tuesday, relinquishing gains after briefly surpassing $70,000, amidst a broader market selloff fueled by escalating Middle East tensions.
* The cryptocurrency fell over 4.5%, settling around $68,800 in afternoon trading.
* Analysts attribute the decline to investor flight from risk assets, exacerbated by rising oil prices.
* Ether and Solana also experienced declines.
* US-listed Bitcoin ETFs saw nearly $1.5 billion in net inflows last week but have experienced a net outflow of about $1 billion so far this year.
* Crypto-related stocks, including Coinbase and Core Scientific, mirrored Bitcoin’s decline.
Leave a Reply