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Markets are falling: gold is experiencing its worst period in recent weeks, and Bitcoin (BTC) has dropped to $67,000! So what is causing the decline?
The cryptocurrency market continues to fall, led by Bitcoin. This decline is linked to geopolitical tensions surrounding U.S. President Donald Trump and Iran.
Yesterday, U.S. President Donald Trump threatened to attack Iran’s energy infrastructure if Iran does not reopen the Strait of Hormuz within 48 hours. These statements by Trump triggered a decline in the prices of Bitcoin ($BTC), altcoins, and gold.
Gold prices fell sharply, dropping below $4,200 and recording the largest weekly decline in more than 40 years. This drop occurred amid the ongoing conflict between the United States, Israel, and Iran, which has now entered its fifth week and has shaken investors in global markets.
Typically, gold prices rise during geopolitical crises like this. However, this time the opposite is happening. Even as the conflict between the U.S. and Iran escalates, gold prices remain under pressure and continue to fall.
According to analysts, one of the main reasons for this is the rise in bond yields. The yield on 10-year U.S. Treasury bonds has risen sharply in recent weeks, reaching approximately 4.40%. Analysts say that higher yields make interest-bearing assets more attractive, reducing demand for gold.
An X user known as Covey Letter stated in a post that “gold prices have fallen approximately 22% from their peak and have officially entered a bear market.”
Following Trump’s statements, Bitcoin fell from around $71,000 to below $68,000. Along with this decline, $BTC also dropped below the critical $69,000 level, and analysts expect this level to now act as resistance. The next support level is seen at $65,000.
According to Coinglass data, leveraged positions worth $393.3 million were liquidated over the past 24 hours. Of this amount, $307.1 million were long positions and $86.2 million were short positions.
Over the past 24 hours, assets belonging to 173,371 investors were liquidated, with the largest liquidation occurring on the XAU/USDT trading pair on Binance.
See also: "JPMorgan names reasons for Hyperliquid’s popularity. What drives the interest"
