Bitcoin price news: BTC gives up gains as Middle East tensions ratchet higher

Bitcoin experienced a sharp reversal on Friday, falling from a near one-month high of $74,000 to just above $71,000, as news of increased Middle East tensions rattled markets. The decline followed reports of U.S. military deployments, including a Marine expeditionary unit, in response to escalating attacks around the Strait of Hormuz. While Bitcoin still held onto a 1.9% gain over the past 24 hours, other cryptocurrencies like Ethereum and Solana also retreated from their session highs. The market reaction mirrored a broader trend in risk assets, with U.S. equities also surrendering early gains. Gold experienced a pullback, while oil prices climbed. Analysts suggest the impact of these geopolitical events may be short-lived unless further escalation occurs. Despite the market dip, crypto-linked equities, such as Marathon Digital and Galaxy Digital, continued to post gains.

(Source：CoinDesk)