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Bitcoin’s price dropped by 2.3% to around $62,571, due to escalating tensions between the United States and Iran and rising oil prices, which increased fears of inflation and its impact on digital asset markets. The selling wave continued as institutional demand for cryptocurrencies declined, with Bitcoin ETF funds experiencing eight consecutive weeks of outflows amid investors' weak appetite and a preference for AI company stocks. The details also included a decline in the prices of other cryptocurrencies such as Ethereum, XRP, and Solana.
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