Bitcoin (BTC) price drops toward $70,000 as Iran war sends oil price higher
Bitcoin is nearing $70,000 amid rising geopolitical tension from the Iran war and anticipation of key U.S. jobs data.Summary
Bitcoin's price is approaching $70,000, reflecting a broader risk-off sentiment as investors await crucial U.S. labor market data and react to escalating geopolitical tensions involving Iran. The U.S. jobs report, expected to show the unemployment rate steady at 4.3% and nonfarm payrolls slowing, is closely monitored for its potential impact on Federal Reserve interest rate policy. Concurrently, the conflict with Iran has pushed oil prices, specifically WTI crude, up over 5% to around $83 per barrel. This caution is also evident in strengthening of the U.S. Dollar Index (DXY) above 99, a rise in the 10-year Treasury yield to about 4.16%, and slight weakness in equity markets, with crypto-related stocks also trading lower in pre-market activity.
(Source：CoinDesk)