$BTC
Bitcoin Drops Below $100K Amid Strait of Hormuz Tensions
Bitcoin plunged below $100,000 for the first time since May 25, falling nearly 4% in the past 24 hours and 5.5% over the week.
The downturn triggered a broader crypto selloff, with altcoins tumbling and over $1 billion in liquidations reported. The crash follows rising geopolitical tensions as Iran’s parliament reportedly voted to close the Strait of Hormuz after U.S. airstrikes on Iranian nuclear sites.
The move, a reaction to escalating conflict with Israel, has driven oil prices up nearly 1%, fueling inflation fears and prompting traders to derisk amid uncertainty in both traditional and crypto markets
