Bitcoin Hits 50-Day High as US–Iran War Tensions Escalate

Bitcoin reached its highest level in over 50 days, surging above $95,000 on Tuesday, propelled by two main factors: easing US inflation data and heightened geopolitical tensions between the US and Iran. The US State Department issued a severe warning for American citizens to leave Iran immediately due to escalating protests and hardening rhetoric, raising fears of a wider regional conflict. This geopolitical risk revived Bitcoin's appeal as a hedge asset outside government control, especially amid potential internet shutdowns in Iran. Simultaneously, the US Consumer Price Index showed stable inflation, removing a key macroeconomic risk by suggesting the Federal Reserve would not need to aggressively tighten monetary policy. This created a safer backdrop for risk assets. After weeks of selling pressure from spot Bitcoin ETF outflows, the market stabilized around $86,000. The combination of fading ETF selling pressure and renewed geopolitical demand provided the spark for the rally, with traders now looking toward $100,000 as the next significant target.

(Source：BeInCrypto)