Bitcoin (BTC) extended its recent correction on Thursday, trading below $65,800 after posting modest losses in the previous session. While institutional investors continue accumulating Bitcoin through spot exchange-traded funds (ETFs), growing geopolitical tensions in the Middle East have dampened investor sentiment and limited the cryptocurrency’s upside. The latest decline comes as higher oil prices and renewed inflation fears prompt traders to reassess expectations for US monetary policy. Rising geopolitical risks pressure Bitcoin Bitcoin rallied earlier in the week, climbing toward its mid-June highs and reaching a monthly high of over $66,000. However, bullish momentum faded as geopolitical developments triggered a shift away from risk assets.
Source: Read the original article
