Bitcoin was trading at $79,724.8, down about 0.3% on the day
Bitcoin slipped below the $80,000 level on Monday, while higher oil prices amid escalating U.S.-Iran tensions added to pressure on risk assets.
Bitcoin was trading at $79,724.8 by 05:01 GMT, down about 0.3% on the day.
The cryptocurrency had briefly jumped above $82,000 last week, reaching a more than three-month high of around $82,178.6 on Thursday, before retreating.
Higher interest rates tend to weigh on Bitcoin and other speculative assets by raising the opportunity cost of holding non-yielding investments and tightening financial conditions.
Despite the recent pullback, institutional demand has provided some support. U.S. spot bitcoin exchange-traded funds recorded around $1 billion in net inflows last week, according to data from SoSoValue.
Oil prices have added another source of uncertainty. Brent crude jumped to almost $97 a barrel on Monday as tensions between Iran and U.S. raised concerns over supply disruptions in the Middle East.
The U.S. launched attacks on Iranian oil tankers on Saturday after Iran hit U.S. Navy vessels.
Bitcoin-linked Liquid Network, a settlement platform used by cryptocurrency exchanges, halted new transactions after around $320 million worth of bitcoin was withdrawn from its federation wallet in a security exploit, raising new concerns over digital-asset infrastructure.
Nearly 4,000 of the almost 4,200 bitcoin held in the wallet were taken, Liquid Network said in a post on X. The withdrawals were conducted through SideSwap, a settlement platform authorized to facilitate transactions on the network.
The network said the individuals responsible described themselves as “purported white-hat hackers”, although their identities and intentions remained unclear.
Exchanges have also suspended deposits and withdrawals involving Liquid’s bitcoin-linked LBTC token while the incident is investigated.
Comments (0)
Average Rating: No ratings yet/5 (0 reviews)
No comments yet. Be the first to comment!