Bitcoin and other cryptocurrencies dropped again as rising tensions between the U.S., Israel, and Iran shook global markets.
On Sunday, Bitcoin fell more than 3% to around $68,000, its lowest level since early March. Other cryptocurrencies fell even more. Ethereum dropped nearly 5%, while major coins like Solana, XRP, and Cardano also declined.
Overall, Bitcoin has lost about 20% of its value since the conflict started in late February. This challenges the idea that Bitcoin acts as a “safe haven” during global crises.
Analysts say there are several reasons for the drop. Crypto is moving in the same direction as stocks, which are also falling. Higher energy prices are increasing the cost of mining, putting extra pressure on the market. At the same time, excitement around new U.S. crypto laws has faded, removing a key reason for prices to rise.
Because crypto trades 24/7, it often reflects market sentiment earlier than other assets. Over the weekend, oil-related markets went up while stock futures fell, showing continued uncertainty.
This latest drop continues a longer downtrend that started late last year, when Bitcoin was above $120,000. Since then, recovery attempts have been weak, leaving the market sensitive to global economic and political events.
