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Bitcoin Falls Below $77,000 Amid Uncertainty Over Iran
Bitcoin dropped below the $77,000 mark on Tuesday amid renewed U.S. strikes on Iranian targets, which weakened hopes for a near-term peace agreement and added pressure to the world’s largest cryptocurrency alongside slowing inflows into exchange-traded funds (ETFs).
As of 06:43GMT, Bitcoin was trading down 0.6% at $76,946.7 after climbing close to $78,000 during the previous session.
Middle East Uncertainty and Slowing ETF Inflows Pressure the Market
On Monday, U.S. armed forces launched new strikes in southern Iran targeting missile systems and naval mine deployment facilities, according to reports.
U.S. officials described the strikes as “defensive” and stated they did not signal the end of the ceasefire arrangement with Iran.
The development came after U.S. President Donald Trump said on Monday that negotiations with Iran were “going well.”
Rising geopolitical uncertainty pushed investors toward safer assets such as the U.S. dollar and gold, increasing pressure on equities and cryptocurrencies.
Oil prices rebounded nearly 2% during Asian trading hours, keeping inflation concerns elevated.
Bitcoin’s latest decline follows a volatile month for digital assets, with traders repeatedly swinging between optimism over a possible breakthrough in U.S.-Iran negotiations and fears of renewed escalation.
ETF Demand Is Also Losing Momentum
Demand for ETFs, one of the key drivers supporting Bitcoin this year, is also showing signs of slowing. U.S. spot Bitcoin ETFs recently recorded net outflows after a prolonged period of strong institutional buying throughout the quarter.
Analysts note that rising U.S. Treasury yields and persistent inflation concerns continue to weigh on cryptocurrency outlooks as traders reduce expectations for near-term Federal Reserve rate cuts.
Investors are now closely watching key U.S. inflation data due later this week. On Thursday, the Personal Consumption Expenditures (PCE) index — the Federal Reserve’s preferred inflation gauge — is expected to provide further clues about the regulator’s next policy moves.
Crypto Prices Today: Altcoins Also Decline
Most altcoins also moved lower on Tuesday, extending declines amid cautious market sentiment.
Ethereum, the world’s second-largest cryptocurrency, fell 0.3% to $2,101.75.
XRP, the third-largest crypto asset, slipped 0.7% to $1.35.
Solana declined 1.4%, while Cardano lost 0.7%. Meanwhile, Polygon gained 1.4%.
Among meme tokens, Dogecoin dropped 1.3%.
See also: "$1.26 Billion Bitcoin ETF Outflow Could Become a Buy Signal"
