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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InBitcoin extended its decline during Monday's Asian session, slipping below the $74,000 threshold to trade near $73,996, marking a 2.5% drop over 24 hours. This further weakness follows a direct military escalation in the Gulf region, where US forces boarded an Iranian vessel on Sunday. The incident compounds the market panic triggered by the official closure of the Strait of Hormuz, which has seen zero tanker traffic for the first time in history. Diplomatic prospects remain bleak as Iran formally rejected a second round of negotiations with the United States following accusations of ceasefire violations. Consequently, risk-off sentiment is intensifying, driving capital away from digital assets toward traditional safe havens. Market participants are closely monitoring institutional flows into spot Bitcoin ETFs as the geopolitical standoff threatens global supply chain stability.