Bitcoin slipped into the $75,000 range as military tensions between the United States and Iran escalated.
According to CoinMarketCap, a virtual asset market tracker, as of 8:30 a.m. on the 27th, the price per bitcoin was $75,812, down 1.86% from 24 hours earlier. It is the first time in three days since on the 24th that bitcoin has fallen into the $75,000 range.
At the same time, Ethereum, the leading altcoin (Altcoin, all virtual assets except bitcoin), was $2,071, down 1.69% from the previous day. XRP fell 1.53% to $1.32, and Solana (SOL) slipped 1.63% to $83.59.
As military tensions between the United States and Iran rose again, risk-off sentiment spread. The U.S. Central Command said the previous day that it carried out airstrikes on parts of southern Iran near the Strait of Hormuz as an act of self-defense. In response, the Islamic Revolutionary Guard Corps (IRGC) signaled the possibility of retaliation.
A surge in U.S. Government Bonds yields also weighed on the virtual asset market. The yield on the 30-year U.S. Treasury topped 5.1%, nearing a decades-high. Typically, when rates rise, the present value of future investment returns decreases, reducing the appeal of investing in risk assets such as bitcoin.