Bitcoin dropped below $73,000 on Thursday, reaching a six-week low, as renewed US military strikes on Iran escalated geopolitical risks and triggered heavy selling across crypto markets. Spot Bitcoin ETFs saw sharp outflows, with BlackRock's IBIT alone shedding $528 million in a single day. The move coincided with nearly $1 billion in liquidations across derivatives platforms.
US airstrikes on Iranian targets near the Strait of Hormuz prompted retaliation threats from Iran's Revolutionary Guards, pushing Brent crude above $96 per barrel and souring risk appetite worldwide. Bitcoin touched an intraday low of $72,792 before recovering slightly to around $73,274, down more than 2.7 percent over 24 hours. Ethereum fell below $2,000 in tandem with the broader selloff.
