Geopolitical Tensions Send Bitcoin Price Below $83,000

Bitcoin's price dropped below $83,000 on Monday after reaching a high of nearly $85,000 over the weekend. This decline is attributed to the return of geopolitical risk as tensions between Washington and Tehran escalate.

The market has seen this dynamic before, with Bitcoin falling below $77,000 in early September following US strikes against Iran. This time, however, the price drop was more significant, with BTC reaching a low of around $82,700 on Monday.

Other major cryptocurrencies such as Ether, XRP, and Solana are also trading in the red, while Nasdaq futures were down 0.7% at the start of the session. Oil prices have rebounded, with WTI trading around $93 and Brent exceeding $105.