Bitcoin slipped below $74,000 on Sunday after renewed conflict between the U.S. and Iran erased a strong weekend rally.
Bitcoin had climbed near $78,300 on Friday, its highest level since early February, but sentiment changed quickly after Tehran threatened to close key shipping routes in the Strait of Hormuz.
Selling pressure intensified after reports that the U.S. military intercepted and seized an Iranian cargo vessel accused of bypassing a blockade. Iran reportedly withdrew from scheduled peace talks and warned of retaliation, increasing fears of a wider escalation.
Global markets reacted immediately. Stock futures moved lower, while crude oil surged more than 4.5%, rising above $95 per barrel as traders priced in possible supply disruptions.
Crypto sentiment remains fragile. Although Bitcoin recovered slightly above $74,000, the Fear & Greed Index remains in fear territory, showing caution among investors.
Analysts are now focused on the $72,000 support level. A decisive break below it could open the door to a deeper correction toward $68,000.
For bulls, any return toward the $78K highs may depend on easing geopolitical tensions and stabilizing oil markets in the coming days.
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