Bitcoin fell below $84,000 this Wednesday, losing nearly $2,000 in about twenty minutes after several unsuccessful attempts above $87,000. Geopolitical tensions around the Strait of Hormuz, oil prices rebounding above $100 per barrel, rising US bond yields and dollar strength are reviving risk aversion and dragging the entire crypto market down. Altcoins declined more sharply than Bitcoin due to their higher volatility and a wave of liquidations exceeding $403 million of long positions in one hour. Despite this, US spot Bitcoin ETFs recorded $118.8 million in net inflows on Tuesday and 24,073 BTC left exchanges on Monday, signaling potentially favorable dynamics over the medium term.
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