Bitcoin Slumps Amid Geopolitical Tensions and Soaring Bond Yields

The cryptocurrency market is under pressure due to several factors, including rising yields on U.S. government bonds and geopolitical tensions surrounding Iran.

The total capitalization of the digital asset market was around $2.91 trillion at the start of the week, with Bitcoin's share at about 57.7%.

Bitcoin traded in the $83,000, $83,500 range, losing about 1-2% over the day, while Ethereum hovered around $2,650 and showed a comparable decline.

The situation remains ambiguous as buyers are cautious due to foreign policy risks and high rates, but inflows into exchange-traded funds continue to support interest in crypto assets.