CoinDesk·3 min read·hard
Bitcoin under pressure as U.S.-Iran escalation lifts oil
O
Omkar Godbole
✦AI Summary
Bitcoin and other cryptocurrencies fell as geopolitical tensions between the US and Iran escalated, driving up oil prices. Investors are moving away from riskier assets as inflation fears and potential interest rate hikes loom.
BTC, the leading cryptocurrency by market capitalization, slipped to $62,657 in Asian trading hours, down nearly 1% since midnight UTC, according to CoinDesk data. Ether (ETH), XRP (XRP), and solana (SOL) fell between 1% and 2.3%. WTI crude futures jumped more than 2% to $72.27, while the Dollar Index held steady above 101.00, maintaining Tuesday’s gains.
economycryptoworld
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