BTC on track for fifth weekly decline, first since 2022, geopolitical risks mount
Bitcoin is facing its fifth straight weekly loss, driven by geopolitical tensions boosting the dollar and oil prices.Summary
Bitcoin is poised for its fifth consecutive weekly decline, a losing streak not seen since March to May 2022. This downturn is exacerbated by escalating geopolitical tensions in the Middle East, which have prompted the U.S. to amass significant air power, raising the specter of strikes on Iran. This uncertainty has strengthened the U.S. dollar index and pushed WTI crude oil prices higher, tightening financial conditions that typically pressure risk assets like Bitcoin. The cryptocurrency is already down about 3% for the week, trading below $67,000. Furthermore, Bitcoin has seen five straight monthly declines since October, marking its second-longest losing streak on record, and is down against gold for seven consecutive months.
(Source：CoinDesk)