Bitcoin fell to $77,000!

Bitcoin fell on Friday amid rising military tensions between the United States and Iran. The price of the world’s largest cryptocurrency declined 1.7% to $77,197.6. As a result, Bitcoin lost 3% over the week, ending its three-week winning streak.

The decline in the cryptocurrency market was driven not only by US-Iran tensions but also by concerns over interest rates. Investors became more cautious as they awaited US Consumer Price Index data. Persistently high inflation could increase the likelihood of the Federal Reserve tightening its monetary policy.

Other cryptocurrencies also declined. Ether fell 0.5% to $2,468.17, while XRP lost 2.7%. Solana and Cardano dropped more than 2%, while BNB declined 0.7%. Rising tensions in the Middle East also pushed oil prices higher. Higher oil prices have increased inflation concerns, putting pressure on risk assets, including cryptocurrencies. Investors are currently monitoring both US economic data and geopolitical developments.