Bitcoin Falls to Around $83,000 as US-Iran Tensions Rise

Bitcoin fell to around $83,000 in trading on Monday, extending losses that began over the weekend as tensions between the United States and Iran escalated.

The cryptocurrency’s decline also came under pressure from rising US Treasury yields, adding to the challenges facing the market.

Higher Treasury yields can make interest-bearing assets more attractive relative to investments such as Bitcoin, which does not generate income from interest.

The combination of geopolitical uncertainty and rising yields provided a difficult backdrop for Bitcoin as its weekend slide continued into Monday.