Bitcoin tumbles 2.2% as iran tensions escalate

Bitcoin's price plummeted 2.2% on Monday, wiping out the previous day's gains, as the deadline set by Donald Trump for potential US strikes on Iranian infrastructure drew near.

Market volatility amid geopolitical tensions

The cryptocurrency's value briefly topped $70,000 for the first time since March, but the surge was short-lived. Other digital assets also declined, with Ethereum, the second-largest token, falling 2.8%.

The global equity markets were also volatile ahead of the Tuesday deadline set by Trump, who threatened to bomb Iranian civil infrastructure if Tehran failed to open the Strait of Hormuz, a crucial shipping route. S&P 500 futures dropped 0.4%.

Experts maintain that the sentiment around Bitcoin remains bearish in the short and medium term. Analyst Rachael Lucas of BTC Markets said the market is currently in a wait-and-see phase, where