Crypto
Oil Price Surge, Iran Tensions Hammer Bitcoin Below $64,000
Bitcoin's price has slipped below $64,000 as rising oil prices and geopolitical uncertainty weigh on market sentiment.
The US-Iran negotiations have stalled, with President Donald Trump responding to Iran's conditions with additional demands. This rhetorical escalation is pushing oil prices higher, which in turn is pressuring risk-sensitive assets like Bitcoin.
US spot Bitcoin exchange-traded funds recorded net outflows of $144.67 million on Monday, ending a five-day streak of positive flows. The combination of geopolitical uncertainty and renewed inflation concerns is keeping investors cautious, limiting Bitcoin's ability to recover.