Bitcoin plunges amid rising tensions with iran, expert warns of bearish trend

Bitcoin prices tumbled 2.2% on Monday, wiping out the gains from the previous day when the cryptocurrency briefly surged past $70,000 for the first time since March. The sharp decline came as the deadline set by Trump for taking military action against Iran's infrastructure loomed closer.

Global markets fluctuate amid geopolitical tensions

Other digital assets also fell, with Ether, the second-largest token, dropping 2.8%. Meanwhile, global stock futures, including those for the S&P 500, declined by 0.4% ahead of the Tuesday deadline set by Trump, who threatened to bomb Iran's civilian infrastructure if it failed to open the Strait of Hormuz, a crucial maritime trade route. Analysts have consistently maintained a bearish stance on Bitcoin, both in the short and medium term.

According to Rachel Lucas of BTC Markets, the market remains in a wait-and-see phase, where