US-Iran Tensions Weigh Heavy on Crypto Markets

Crypto markets remain under pressure as Bitcoin and other top cryptocurrencies like Ethereum and XRP slip in value. The ongoing tensions between the US and Iran are a major contributor to this downturn, with prices weighed down by concerns over potential escalations.

The US-Iran conflict has been escalating over the weekend, with both sides engaging in military strikes. This has led to increased uncertainty and risk aversion among investors, causing them to sell off their crypto assets.

BTC is trading below $64,000, while Ethereum and XRP are also struggling to hold onto support levels. The technical analysis suggests that the short-term outlook for Bitcoin remains bearish, with prices capped by a combination of moving averages and resistance levels.