Bitcoin Slides as US-Iran Tensions Escalate

This move underscores Bitcoin's continued sensitivity to macro risk-off flows, despite its narrative as a hedge. The immediate impact is on short-term traders and leveraged positions, who face heightened volatility as geopolitical headlines drive sentiment. The key question is whether this drawdown remains contained or signals a broader de-risking phase across crypto, particularly if tensions persist without a quick de-escalation. Watching how spot demand responds at these lower levels versus derivative liquidations will indicate the market's true conviction.