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Crypto Macro

Bitcoin Drops Below $80K Amid Yen Strength and Iran Tensions

Bitcoin failed to reclaim the $80,000 level on Tuesday, falling alongside US stocks as tensions with Iran escalated. Comments by US Treasury Secretary Bessent fueled concerns over a unwind of yen carry trades, with the yen strengthening to around 153 per dollar. Risk-off sentiment weighed on both cryptocurrencies and equities.

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