Bitcoin under pressure as U.S.-Iran escalation lifts oil
Major cryptocurrencies are trading in the red as renewed U.S.-Iran airstrikes push oil higher.
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Summary
- Bitcoin and major cryptocurrencies trader lower after U.S.-Iran aerial strikes lifted oil.
- The latest exchange of strikes, following attacks on ships and alleged targeting of U.S. installations, has pushed an already fragile cease-fire between Washington and Tehran to the brink of collapse.
- The conflict, which earlier this year sent oil above $100 a barrel and stoked global inflation fears, raised expectations of higher interest rates that tend to weigh on riskier assets like cryptocurrencies.
