Bitcoin drops below $69,000 on geopolitical concerns

Bitcoin experienced a significant drop below $69,000, alongside other major cryptocurrencies like Ether and Solana, as fading hopes for Middle East de-escalation impacted risk sentiment. The price decline coincided with a rebound in crude oil prices, reflecting renewed inflation and supply disruption concerns stemming from the Iran conflict. This macroeconomic uncertainty is currently dictating the trajectory of risk assets, including crypto. Major tech stocks also saw declines, with NVIDIA and Meta experiencing notable pullbacks from their all-time highs, further underscoring the market's sensitivity to global events.