Bitcoin Drops Below $73K as US-Iran Tensions Escalate, Oil Surges
Bitcoin fell below $73,000 on Thursday, reaching its lowest level since April 13, as renewed U.S.-Iran fighting rattled global markets. U.S. strikes in southern Iran prompted retaliation from Iran's Revolutionary Guards, who targeted a U.S. base and warned of more decisive future responses. The escalation dimmed hopes for a permanent ceasefire, with Polymarket odds dropping from 70% to 8%. Oil surged nearly 4% to around $96 per barrel, fueling inflation concerns. Crypto markets reacted alongside broader risk assets, with BTC consolidating around $73,000. Analysts note the market remains structurally resilient but sensitive to geopolitical risks and upcoming U.S. inflation data (PCE report). The 50-week EMA at $84,000 is a key resistance level, while $68,000 is the next support.
Key facts
- Bitcoin fell below $73K to lowest since April 13.
- US strikes in Iran triggered retaliation from Revolutionary Guards.
- Polymarket odds of permanent ceasefire dropped from 70% to 8%.
- Brent crude surged nearly 4% to ~$96/barrel.
- Key levels: 50-week EMA at $84K resistance, $68K support.