Bloomberg: Bitcoin falls after breaking above $70,000 last night amid Iran war risk

2026-03-03 08:28:06

Abstract generation in progress

Deep Tide TechFlow News, March 3 — According to Bloomberg, Bitcoin briefly surged above $70,000 on Monday but then declined, influenced by concerns that the Middle East conflict could escalate, leading to a drop alongside other risk assets. As investors avoid riskier assets, cryptocurrencies like Ethereum and Solana generally experienced downward trends.

After the US and Israel launched strikes on Iran, Iran intensified attacks on the US and its allies and threatened to close the Strait of Hormuz, a critical trade route, prompting investors to seek low-risk assets.

Pratik Kala, Head of Research at Apollo Crypto, said this is a normal cooling-off period. Bitcoin has been trading between $65,000 and $70,000 since early February, and any breakout beyond this range could trigger profit-taking.

BTC1,34%

ETH0,93%

SOL0,72%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.