U.S.-Iran Escalation Weighs on Bitcoin, Stocks as Oil Climbs

Bitcoin fell over the past 24 hours to $62,600 as rising oil prices and renewed U.S.-Iran conflict pushed investors out of risk assets. Brent crude rose nearly 4% in the period, according to CoinDesk, while the CoinDesk 20 (CD20) index slipped 0.6%, European equity benchmarks fell about 1% and U.S. index futures were down 0.3%. CoinDesk said attacks on tankers have reduced traffic through the Strait of Hormuz, de-facto closed for 136 days, lifting inflation concerns and Treasury yields; the two-year yield rose to 4.28% as markets priced a 36% chance of a Fed rate hike this month.