Bitcoin dips as Iran conflict stokes broader crypto market volatility
Bitcoin's value dropped 2.02% to $75,064.2 as Iran closed the Strait of Hormuz, sparking broader crypto market volatility. Despite this, institutional demand for Bitcoin ETFs remained strong, with $663.91 million in recent inflows.
Bitcoin fell 2.02% to $75,064.2 after Iran closed the Strait of Hormuz, causing a risk-off sentiment across financial markets. The conflict in the Middle East directly impacted Bitcoin's price. Despite this, Bitcoin ETFs saw $663.91 million in inflows, pushing total net assets above $100 billion. Ether ETFs also gained $127.49 million, marking seven consecutive days of inflows. Regulatory uncertainty and thin market conditions contributed to the price drop. Persistent inflation data and shifting interest rate expectations also discouraged aggressive accumulation.
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