Bitcoin price dropped by 0.50% today, April 5, remaining inside a range it has been stuck at in the past few months. This consolidation may be followed by a strong bearish breakdown this week as President Donald Trump's deadline to "reign on hell" on Iran nears. BTC price may drop sharply in the coming days as geopolitical risks rise.
In a statement on Saturday, President Donald Trump threatened Iran to make a deal or reopen the Strait of Hormuz or the US would rain hell on the country. His ten-day deadline will end on Monday this week. The statement came a few days after he warned to take Iran back to the "stone age, where they deserve." This means the US will continue bombing Iran's infrastructure projects, including bridges and power sources.
Analysts believe that these actions will lead to widespread Iranian retaliation, which will include bombing infrastructure in other countries in the region, including in countries like Kuwait, Saudi Arabia, and Israel. The escalating geopolitical tensions are creating uncertainty in global markets, potentially triggering a flight from risk assets like Bitcoin.
