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Why is crypto down today? Bitcoin falls below $84,000 as Iran tensions, rising oil prices and heavy liquidations pressure crypto markets.
Cryptocurrency market turned into a sea of red and Bitcoin dropped below $83 thousand amidst a massive liquidation cascade. The past 24 hours witnessed long positions being forcibly flushed out amidst a jump in bond yields, the dollar's rebound and an uptick in Fed rate hike expectations.
Bitcoin fell toward $84,000 as rising oil prices and higher U.S. Treasury yields, driven by Iran's expanded attacks on ships in the Strait of Hormuz,