The US-Iran war has escalated again with fresh strikes from both sides, which has now dampened hopes for an imminent peace agreement. This caused another significant drop in the price of Bitcoin, with the expert urging market participants to withdraw their funds from BTC.

US hits Iran as expert calls on investors to abandon bitcoin

Some The matter was reported by Al Jazeera shows the United States shot down four Iranian drones and attacked a ground control station in Bandar Abbas, a fresh escalation in the 3-month-old war. In response, Iran also struck a US air base in Kuwait, which threatens to further escalate tensions between the two sides. Bitcoin fell sharply after these fresh attacks, amid waning optimism an imminent peace agreement.

Before, US President Donald Trump said the U.S.-Iran deal was largely negotiated, signaling an announcement was imminent. However, President Trump later said he told his team not to rush into reaching an agreement because they were in no rush. Since the president’s statement, the price of bitcoin has fallen from a high of around $76,000.

Expert amid Bitcoin’s recent decline SrPepe advised investors to withdraw their funds from BTC, claiming that Binance, Coinbase and Bybit dumped BTC right after the US market closed. He added this these cryptocurrency exchanges they were selling millions of BTC every few minutes and brought the price down to around $74,000.

It is worth noting that Polymarket courses peace agreement between the US and Iran before June 30 fell below 50%, now it stands at 43%. As such, the risks of Bitcoin and the broader cryptocurrency market will decline further if a US-Iran peace agreement does not occur soon.

BTC will likely continue to fall to around $71,000 and lower

Cryptocurrency analyst CryptoCondom said that Bitcoin will likely continue to decline, with an inevitable drop to $71,000 followed by another drop after the dead cat bounce. He further noted that June could be very bearish for cryptocurrencies as all tech and space stocks continue to steal liquidity ahead of SpaceX IPO.

CryptoCondom echoed the crypto analyst Altcoin Sherpa sentiment about Bitcoin’s frail price action. The analyst opined that BTC is likely to drop to around $71,000 as the 4-hour EMA has lost its bullish trend, although he said the leading cryptocurrency still looks good in the overall context. Altcoin Sherpa previously opined that BTC’s February low of $60,000 was likely an all-time low this bear market.

At the time of writing, Bitcoin is trading at around $72,800, down more than 3% in the last 24 hours, according to data from CoinMarketCap.

Featured image from Pixabay, chart from Tradingview.com