Crypto
Bitcoin Dips Below $79K Amid Iran Conflict, Rising Yields
Bitcoin's price dropped below $79,000 on Thursday due to concerns over an escalating military conflict between the US and Iran, as well as a surge in Treasury yields.
The world's largest cryptocurrency fell 0.8% to $78,299.6 by 01:07 ET, with other digital assets like Ether and XRP also experiencing losses.
The conflict has sent shockwaves through commodity markets, causing Brent crude prices to rise to their highest level since late July.
Additionally, Treasury yields have reached a three-year high after the US Treasury Department's attempt to buy back longer-dated bonds failed to meet market expectations.