Bitcoin declines to $78,200 amid Iran tensions

Bitcoin's price fell to around $78,250 due to escalating tensions between the United States and Iran, as well as rising U.S. Treasury bond yields. Cryptocurrencies and market structures were significantly impacted by the increasing conflicts in the Strait of Hormuz and the surge in oil prices, especially after Brent crude exceeded $100 per barrel amid naval exchanges between the two sides. Additionally, the rise in Treasury bond yields increased liquidity costs, putting downward pressure on high-risk assets. Consequently, cryptocurrencies such as Ethereum, Solana, and Cardano declined between 0.7% and 3.2%.

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