Warning: $BTC Drops 3.5% as Iran Escalation Ends Rally at $74,000
$BTC hit a one-month high of $74,000 then reversed to $71,200 within hours.
What triggered it:
- Pentagon deploying 2,500 Marines to Middle East
- Iran escalating around Strait of Hormuz
- Oil surged $5/barrel to $97.30
- S&P 500 and Nasdaq flipped to 0.4%-0.5% losses
$BTC still holds 1.9% gain over 24 hours. The $71,000 support absorbed the sell pressure.
Verdict: Risk-off mode activated. Watch $71,000 support closely.