The world’s largest cryptocurrency fell about 4% to around $71,300, after briefly nearing $76,000 in the previous session, News.Az reports, citing Aljazeera.
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Markets were unsettled by escalating conflict involving Iran, Israel and the United States, alongside reports of attacks on key energy infrastructure. Oil prices surged in response, adding to inflation concerns.
At the same time, fresh US data showed producer prices rising faster than expected, raising doubts over how soon the Federal Reserve might cut interest rates.
The combination of geopolitical risk and tighter monetary expectations weighed on risk assets, with other cryptocurrencies also declining.
Ethereum, XRP and Solana all posted notable losses, tracking Bitcoin’s retreat.
Investors are now watching the Federal Reserve’s latest policy decision and comments from Chair Jerome Powell for signals on inflation and interest rates.
