Bitcoin Slumps Amid Rate Hikes, Iran Tensions

Bitcoin has taken a hit, dipping to $64,043.8 after falling 0.6% on Thursday. The decline comes as investors remain cautious amidst rising interest rates and ongoing tensions between the U.S. and Iran.

The Federal Reserve's hawkish stance and the subsequent increase in oil prices have led to concerns about inflation, which may result in further rate hikes from major central banks. This has weighed on speculative assets like Bitcoin, making it a tough day for crypto markets.

Strategy Inc, a company with a massive Bitcoin stockpile of 843,775 coins, is set to report its second-quarter earnings after the market close today. Investors will be closely watching whether the company plans to sell more of its holdings, given that it has already logged significant losses on its digital asset portfolio.