Trump's Threats Spark Selloff: Bitcoin Hits Three-Day Low

Bitcoin plummeted to a three-day low of $64,799 on July 23 as geopolitical tensions between the US and Iran escalated. The selloff was triggered by comments from President Donald Trump, who threatened a 'massive attack' on Iran after Houthi rebels struck Saudi oil shipping vessels in the Red Sea.

The White House confirmed no final military decision had been made, but investors remain spooked by the rhetoric. Brent crude oil prices surged above $100 per barrel, its highest level since early June, fueling inflation concerns and boosting interest rate expectations.

Fed rate hike odds jumped from 12% to nearly 40% in one week, according to CME Group's FedWatch Tool. Analysts are split on what comes next for Bitcoin, with some targeting $73,000 and others calling for shorts below $65,000.