Bitcoin approached the $62,000 mark amid a broader decline in stock markets triggered by rising tensions between the US and Iran over the Strait of Hormuz. According to CoinTelegraph, Bitcoin bulls faced challenges maintaining this level as geopolitical rhetoric intensified.
Former US President Donald Trump stated that the US would 'run' the closed Strait of Hormuz, escalating concerns about potential disruptions in a critical energy transit route. This heightened uncertainty led to risk-off sentiment in equities, benefiting Bitcoin as an alternative asset.
For Japanese investors, these developments highlight the continued sensitivity of global markets to geopolitical risks, reinforcing the importance of diversified portfolios across FX, crypto, and equities amid regional and international tensions.