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Bitcoin (BTC) reached a peak of $70,271 before pulling back to the $69,300 level, driven by escalating geopolitical chaos and tensions in the Strait of Hormuz. A significant structural shift has emerged as the correlation between Bitcoin and software stocks collapsed from near-total alignment to near zero. Analysts identify Artificial Intelligence (AI) as a pivotal factor, alongside the ongoing conflict, in reshaping current market dynamics. This heightened volatility follows President Donald Trump's rhetoric regarding maritime trade stability, testing Bitcoin's status as a safe-haven asset. Despite these sharp fluctuations, technical projections maintain a $75,000 target by June 30. Meanwhile, major altcoins are closely monitoring how energy supply instability continues to impact overall risk appetite in the digital asset space.
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