Bitcoin Retreats From Six-Week High as Iran Conflict Escalates

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Crypto:Bitcoin retreated from a six-week high after a broader risk-off move swept across global financial markets amid growing concern of an escalation in the conflict in the Middle East. The largest cryptocurrency dropped as much as 3.6% on Wednesday to around $71,900 in New York. Earlier this week, Bitcoin climbed to nearly $76,000 - its highest level since the start of February. Smaller, more volatile tokens also declined, with Ether and Solana each falling around 5%.