Bitcoin Slumps Below $80K Amid Middle East Tensions and Market Correction

Bitcoin's recent rally came to an abrupt end as it fell by 1.11% to $80,372.17 over a 24-hour period.

The decline was largely attributed to geopolitical tensions in the Middle East, which weakened demand for risk assets and led to a broader market correction.

Bitcoin had approached $82,000 on Saturday but failed to push above that resistance level, leading to a reversal of nearly $2,000 as traders reduced their exposure to riskier assets.

The cryptocurrency's decline broadly matched the wider market move, with the total cryptocurrency market value falling by approximately $40 billion over the day.