Geopolitics and Economic Uncertainty Weigh on Bitcoin Price

Bitcoin's price has declined by approximately 3.74% over the past three days due to rising geopolitical and economic uncertainty.

The tensions between the United States and Iran have escalated, with Houthi forces warning of a naval blockade in the Bab el-Mandeb Strait in Yemen, threatening global energy supply chains.

As a result, Brent and WTI crude oil benchmarks have surged by more than 30% during July alone, reinforcing market expectations that the Federal Reserve will implement restrictive monetary policies.

This hawkish stance typically depresses capital allocation to cryptocurrencies as market participants become increasingly risk-averse.