Bitcoin fell below the $76,000 level on Wednesday, as renewed geopolitical tensions in the Middle East and significant outflows from ETFs weighed on cryptocurrencies—even as technology stocks rallied on Wall Street and across Asia.
The world’s largest cryptocurrency was last trading down 1.7% at $75,820.4 as of 15:47.
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Market sentiment soured amid renewed uncertainty surrounding a potential peace agreement with Iran, following recent U.S. military strikes against Iranian targets earlier this week.
Iran labeled these strikes a violation of the ceasefire, while U.S. officials characterized them as defensive actions.
Sentiment deteriorated further following reports of Israeli strikes in southern Lebanon, fueling fears of a broader regional conflict.