Warning: $BTC Slides 3.5% as Middle East Tensions Halt Rally at $74,000
$BTC reached a one-month high at $74,000 before reversing sharply to $71,200 within hours.
What triggered the move:
• Pentagon deploying 2,500 Marines to the Middle East
• Iran increasing activity around the Strait of Hormuz
• Oil jumped $5 per barrel to $97.30
• S&P 500 and Nasdaq turned negative with 0.4%–0.5% losses
Despite the drop, $BTC is still up 1.9% over the past 24 hours. The $71,000 level stepped in as immediate support and absorbed the selling pressure.
Verdict: Risk-off sentiment rising. All eyes on the $71,000 support level.