Bitcoin Slumps on US-Iran Tensions, Strategy Resumes Buying

Bitcoin's recent gains came to a halt as it declined 2.2% to $77,225.3 on Tuesday, amidst rising tensions between the US and Iran.

The conflict escalated when the US Central Command launched strikes against Iranian targets, prompting a surge in oil prices.

Jitters over Federal Reserve interest rate hikes also weighed on cryptocurrencies, with bond markets experiencing a sell-off driven by concerns about inflation and fiscal debt.

However, Strategy, the world's largest corporate Bitcoin treasury, resumed buying after a two-month hiatus, purchasing 4,603 coins for approximately $368.7 million last week.