Bitcoin, ether drop in Asia as Japanese data adds to Iran war-led market jitters
CoinDesk
Bitcoin and Ether prices retreated in Asia as Japanese inflation data and Iran conflict-related energy supply concerns fueled global market risk aversion.Summary
Cryptocurrency markets faced downward pressure as Bitcoin struggled to maintain momentum, hovering near $77,800. The market decline is driven by a combination of geopolitical tensions, specifically disruptions to oil shipments in the Strait of Hormuz due to the Iran conflict, and hotter-than-expected inflation data from Japan. Japan's rising service and core inflation figures have increased expectations for a more hawkish stance from the Bank of Japan, potentially triggering a yen-driven unwinding of global risk asset positions.
(Source：CoinDesk)