Bitcoin
BTC
$66351
trades at a price of $66,395.31, down by $2,306.68 or 3.36% for the day and below MA-20 ($70,255.62), MA-50 ($68,951.35), and MA-200 ($91,550.17). This places Bitcoin below key moving averages for short, medium, and long terms, confirming sustained downward pressure.
The escalation of military tensions between the USA, Israel, and Iran, as well as disruptions in the Strait of Hormuz, are causing shocks in oil supplies and increasing the inflow of funds into the US dollar as a safe haven.
Western sanctions are forcing Iran to increasingly use cryptocurrencies for trade and circumventing restrictions, which enhances regulatory scrutiny and compliance risks for Bitcoin globally.
Bitcoin is experiencing sustained downward pressure, trading around $66,395 with a prevailing bearish sentiment and a likely range of $63,000–$69,000 this week.$BTC
