US-Iran Tensions Slam Bitcoin Price Below $77k

Bitcoin's price plummeted to $77,197.6 on Friday as investors became increasingly anxious over escalating US-Iran military tensions and their potential impact on global markets.

The conflict between the two nations has led to a surge in oil prices, which rose by over 11% this week, and heightened concerns about higher energy-fueled inflation.

This, in turn, has sparked fears that major central banks such as the Federal Reserve and the Bank of Japan may raise interest rates further, a prospect that is not favorable for cryptocurrency markets.

Additionally, investors are also on edge ahead of closely watched US inflation data due to be released next week, which could provide more clarity on the state of global inflation and its potential impact on interest rate decisions.