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Bitcoin drops after two-week rise
Bitcoin's price has fallen by 1.7%, reaching $83,061.4, after two weeks of gains. This decline is due to rising U.S. bond yields and the lack of hope for a peace agreement between the United States and Iran, which has put pressure on risk appetite in the markets. The cryptocurrency market also experienced widespread declines amid profit-taking, alongside increasing global government bond yields, with the 10-year U.S. Treasury yield surpassing 5%, the highest level since 2007. The declines are linked to heightened geopolitical tensions, including the U.S.-Iran disputes and regional security deterioration, which have fueled fears of rising energy prices and soaring inflation.
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