Bitcoin Price Faces Uncertainty as Geopolitical Risks Rise

The recent decline in Bitcoin's price has sparked concerns among investors. According to technical analysis, the cryptocurrency has formed a bearish flag pattern, indicating a possible steep crash.

A closer look at the three-day timeframe chart shows that the coin's price has been falling since its all-time high of $126,300 in October last year. The current price of $66,800 suggests that there may be more downside to come.

Furthermore, the Iran war escalation and potential interest rate hike by the Federal Reserve may also contribute to higher inflation and a decrease in the value of Bitcoin. Crude oil prices are expected to rise in the coming weeks, leading to increased inflation in the United States.