$BTC the threat of war between Israel and Iran has caused investors to stay away from cryptocurrencies. The fact that cryptocurrencies are seen as volatile and risky assets in times of uncertainty has triggered investors to turn to safer havens. The escalation of tensions between the two countries has also raised concerns that Iran could close the Strait of Hormuz in retaliation. According to the US Energy Information Administration, 20% of global oil transportation takes place through this strait.

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