Bitcoin slides 2.2% amid tensions over trump's iran deadline

Bitcoin plummeted 2.2% on Monday, wiping out the previous day's gains as the market braced for a potential escalation in tensions between the US and Iran. The cryptocurrency's price had briefly surged above $70,000 for the first time since March, but the renewed uncertainty sent it tumbling back below $69,000.

Other digital assets also fall

Ethereum, the second-largest cryptocurrency, fell 2.8%, while other digital assets also saw declines. The market volatility comes as investors await the outcome of the standoff between the US and Iran, with the deadline set by President Trump for his threatened attacks on Iranian infrastructure rapidly approaching.

Global markets fluctuate ahead of trump's deadline

Global stock markets fluctuated on Monday ahead of the Tuesday deadline, with futures on the S&P 500 falling 0.4%. The heightened geopolitical tensions have kept investors on edge, with many waiting for a resolution to the conflict before making major moves in the markets.

Experts say the sentiment around Bitcoin remains bearish in the short and medium term, with analysts pointing to a lack of conviction among bulls and the inability of bears to force a decisive drop.