Bitcoin Plunges from $80,500 to $78,000 in Sharp Selloff

Bitcoin, after surpassing $80,500 to hit a three-month high, faced a sharp selloff driven by geopolitical developments. Rising tensions in the Strait of Hormuz triggered a sudden downturn in the cryptocurrency market. Claims that Iran's Revolutionary Guard targeted a US vessel created a geopolitical shock in markets. This development, coming shortly after US President Trump's announcement of a naval mission described as a 'humanitarian gesture,' negatively impacted investor risk appetite. Amid this geopolitical uncertainty, Bitcoin quickly retreated to the $78,000 level, erasing most of its peak gains. Analysts suggest that volatility could persist if tensions in the region remain high. This is not investment advice.