Bitcoin fell below $63,000 on Monday amid renewed U.S.-Iran airstrikes over the Strait of Hormuz. The move reflected broader risk-off sentiment in markets as oil prices climbed.
Bitcoin traded near $62,900, down roughly 1.4 percent over 24 hours, after starting the day above $64,300. The decline followed a weekend of mutual strikes between the United States and Iran that centered on control of the vital oil shipping route.
Brent crude rose more than 3 percent toward $79 a barrel, reviving concerns that higher energy costs could sustain inflation and limit Federal Reserve rate cuts. Equity markets also declined, with South Korea's KOSPI index falling 9.2 percent.
Spot Bitcoin and Ether ETFs recorded $197 million in inflows, ending an eight-week streak of outflows. Traders also noted about $253 million in leveraged liquidations, mostly from long positions.
Taran Dhillon, head of digital assets at Kula, said crypto markets face a tug-of-war between macroeconomic data and geopolitics this week, with U.S. inflation figures due soon.
