Bitcoin slides 2.4% to $62,600 amid oil surge, U.S.-Iran tensions
Bitcoin slid 2.4% to $62,600 on Monday, dipping below a key trend line as oil prices surged and inflation fears grew.
Ethereum also took a similar hit.
The drop followed shaky US stock futures and fresh tension after US missile strikes on Iran, reminding everyone how global events can shake up crypto.
US Bitcoin ETFs see inflows
Oil jumped over 4% with Brent crude topping $79 a barrel, thanks to rising U.S.-Iran tensions and worries about supply routes.
All eyes are now on this week's US inflation data and what Federal Reserve Chairman Kevin Warsh has to say, since higher inflation could mean tougher times for crypto.
Still, there's a bright spot: despite the volatility, Bitcoin ETFs in the US just saw their first positive inflows in nine weeks, showing that investor interest isn't fading just yet.