Bitcoin has experienced a slight decline of 0.4%, settling at $66,600 after an initial selloff driven by escalating tensions from U.S.-led strikes on Iranian targets, which have prompted retaliatory missile and drone attacks. This geopolitical unrest has heightened concerns about broader regional conflict and potential disruptions in the crucial Strait of Hormuz, a key oil shipping lane. Amid this uncertainty, Bitcoin futures funding rates have turned sharply negative, indicating a crowded short positioning as investors navigate market volatility. In contrast, safe-haven assets like gold have seen a rise in demand, reflecting a wider risk-off sentiment as oil prices surge due to fears of supply disruptions.
Bitcoin steadies after selloff amid escalating Iran conflict
