Bitcoin recovers to $67,400 after dipping below $65,200 as Houthis enter Iran war
Bitcoin briefly dropped below $65,200 due to escalating Middle East conflict before recovering to $67,402.Summary
Bitcoin dipped to a low of $65,112 early Monday, its lowest since the February crash, following significant escalation in the Middle East conflict, including Iran-backed Houthi forces entering the war and reports of increased U.S. troop presence. The cryptocurrency recovered to $67,402 as Asian markets opened, finding buyers near the $65,000 support level. This dip marked the first time in five weeks that Bitcoin's floor moved lower instead of establishing a higher low, raising technical concerns about the established uptrend. The conflict's expansion also drove Brent crude up 2.5% to $115 a barrel and caused industrial commodities like aluminum to spike following direct attacks on production sites, broadening inflationary pressures beyond energy and potentially delaying future Federal Reserve rate cuts.
(Source：CoinDesk)