Bitcoin price drops to $75K as new Hormuz closure puts focus on oil

Bitcoin foreshadows fresh market mayhem as it appears that the US-Iran war has returned, including the closure of the Strait of Hormuz oil route.

Bitcoin (BTC) sought to protect $75,000 into Sunday’s weekly close as crypto encountered fresh uncertainty over the US-Iran war.

Key points:

Bitcoin price action sinks from 10-week highs amid fears that the US-Iran war has returned in full force.

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