Bitcoin Plunges Below $77k as US-Iran Tensions Escalate

Bitcoin plummeted below $77,000 on Sunday evening after breaking through the $79,000 mark just an hour prior.

The sharp decline was triggered by renewed tensions between the United States and Iran, which reignited a military conflict.

Brent crude oil prices surged approximately 3% to surpass $90 per barrel, raising concerns about inflationary pressure from higher energy costs.

Asian equities fell across the board, with Japan's Nikkei index dropping around 2%, and U.S. and European stock futures trending lower.

The crypto market was further roiled by cascading leveraged liquidations, exceeding $400 million in total over the past 24 hours.