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Bitcoin Trend | Geopolitical Uncertainty Causes Bitcoin to Rise and Then Fall Back
Two oil tankers in Iraqi waters were attacked, raising concerns about escalating conflicts with Iran. Bitcoin briefly reclaimed the $70,000 mark but soon retreated.
According to CoinDesk pricing data, Bitcoin reached a 24-hour high of $71,256 and is now trading at $69,500, down 0.21%. Ethereum is currently at $2,028, up 0.79%, and Dogecoin has increased by 0.01%.
Analysts point out that due to oil price fluctuations and geopolitical uncertainties, market sentiment remains cautious. Bitcoin is expected to face profit-taking pressure around the $70,000 level. However, large Bitcoin holders, known as “whales,” are also buying during the price decline.