Bitcoin Falls Below $71K Amid U.S.-Iran Tensions, Down 3% Monday

Bitcoin fell below $71,000 on Monday as geopolitical tensions between the United States and Iran pressured digital asset markets. BTC traded near $71,040, down approximately 3%, after briefly falling to around $70,830.76.

The decline followed reports that Iran ended all negotiations with the United States and threatened to completely block the Strait of Hormuz, a critical global energy shipping route. Iran also threatened to block the Bab el-Mandeb Strait, citing repeated ceasefire violations and Israeli strikes in Lebanon. The maritime blockade threats weighed on investor risk appetite, with crypto markets reducing exposure to high-beta assets in response.