Bitcoin continued its decline on Tuesday, following the US military response against Iran. Geopolitical tensions have increased volatility among crypto assets amid already bearish market sentiment.
Bitcoin declines amid US-Iran conflict
the Bitcoin price It fell to $61,766.55 at press time on Tuesday, June 8, pushing intraday losses to 3.02%. Before the decline, Bitcoin was holding above $62,000. Earlier this week, Bitcoin was hovering around the $60,000 level due to… Retaliatory strikes between Iran and Israel.
Market pressures increased after US Central Command announced that the US Air Force launched “self-defense” strikes against Iran at 5pm EST on June 9.
The overall cryptocurrency market has turned bearish as well. Long crypto liquidations reached $1.39 million in a one-hour time frame per Queen Glass Data. Bitcoin accounted for most of these liquidations with over $136 million liquidated in the past 24 hours.
Why did the United States launch strikes against Iran this time?
A US Army Apache helicopter was reportedly shot down near the Strait of Hormuz, prompting the military to respond.
US President Donald Trump, in a post on the Truth Social website, addressed these concerns. he booksHe added: “Our great military has just informed me that last night the Iranians shot down one of our highly advanced Apache helicopters while it was on patrol over the Strait of Hormuz.”
Trump also said: “There were two pilots involved, and both are safe and unharmed.” Moreover, he declared: “The United States must, of necessity, respond to this attack.”
However, Iran claimed that it did not intentionally target the plane. Deputy Foreign Minister Kazem Gharibabadi said that Tehran had nothing to do with the deliberate crash of the helicopter. He said such incidents could happen “deliberately” due to rising tensions in the region.
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