Bitcoin plummeted on the morning of June 3rd, breaking below the 70,000 USDT mark.

SKĐS - Bitcoin (BTC) and the crypto market in general have just witnessed their sharpest decline in nearly six months amid the US-Iran attacks on each other.

The price of Bitcoin, the world's leading cryptocurrency, broke below the 70,000 USDT mark on the morning of June 3rd, falling to 66,130 USDT.

For nearly six months now, Bitcoin's price has shown technical signals, bottoming out at around 60,000 USDT, then recovering to 70,000-82,000 USDT due to positive signs in US-Iran negotiations to end the war, restore peace, and reopen the Strait of Hormuz.

However, neither side has been able to build trust, and differing negotiating conditions have prevented the US and Iran from reaching a peace agreement.

Bitcoin price plummets due to US-Iran tensions.

Just when a glimmer of hope was emerging, Israel's repeated attacks on Lebanon—Iran's number one ally in the Middle East—continuously disrupted the peace process.

On June 1st, Israel launched a fierce attack on Hezbollah forces, coupled with earlier US raids on Iranian bases, prompting Iranian retaliation. Then, in the early hours of June 3rd, the US continued its attack on oil tankers heading towards Iranian ports, further dampening hopes for peace in the region.

Political tensions have driven up oil prices and US Treasury yields, leading investors to withdraw capital from risky channels like cryptocurrencies and stocks in favor of safer investments such as US Treasury bonds and gold. Therefore, the cryptocurrency market has become highly sensitive to global political developments.

Not only has Bitcoin plummeted, but in the past 24 hours, investors have also witnessed a decline in major cryptocurrencies such as Ethereum, Solana, XRP, etc., with drops ranging from 7% to 10%.

Nevertheless, analysts hope that the 66,000 USDT level for Bitcoin could be a strong technical support zone for the next several months (from a technical perspective). Here, Bitcoin could continue to consolidate around the 66,000-70,000 USDT range before determining its next trend, depending on the progress of the US-Iran peace process.

Source: https://suckhoedoisong.vn/bitcoin-giam-cuc-manh-sang-3-6-thung-moc-70000-usdt-169260603075506823.htm