Geopolitical Tensions Send Bitcoin Plummeting to $76,926
The sudden escalation of US-Iran tensions has sent shockwaves through global markets, causing Bitcoin to plummet to $76,926.53, a 2.2% drop from yesterday's price.
This sharp decline is not isolated to cryptocurrency; oil prices have surged to their highest level in 40 days, reaching above $90 per barrel, as traders worry about potential disruptions to global crude supplies.
The Strait of Hormuz, a critical shipping lane, was the target of US strikes against Iranian targets. President Trump confirmed the action and warned Iran against retaliation, saying he 'couldn't care less' whether Tehran signs any new deal.
This geopolitical turmoil has also affected Asian markets, with Japan's Nikkei tumbling 2.7%, erasing an estimated ¥31.8 trillion ($202 billion) in market value.