Bitcoin Falls Below $67,000… ‘Risk-Off’ Mood Deepens on Weak U.S. Stocks and Rising Oil Prices

As the Middle East conflict entered its fourth day, risk aversion intensified across global financial markets, pushing Bitcoin below $67,000.

According to cryptocurrency-focused media outlet CoinDesk on the 3rd, Bitcoin fell about 3% over the past 24 hours, slipping below the $67,000 level. After briefly touching $70,000 the previous day, it appears to be undergoing another round of consolidation.

U.S. stock index futures were also weaker. The tech-heavy Invesco QQQ ETF showed early gains but fell about 2% in premarket trading. Crypto-related equities also moved lower in tandem. Strategy (MSTR) dropped about 2%, Coinbase (COIN) 5%, and Galaxy Digital about 3%. Miners IREN and Cipher Digital also fell about 4%.

In energy markets, West Texas Intermediate (WTI) crude rose more than $74 per barrel, up about 5% over the past 24 hours. The U.S. dollar also strengthened, with the dollar index (DXY) breaking above 99.

U.S. Treasury yields also climbed. The 10-year yield topped 4%, approaching 4.1%. Analysts say oil price gains and inflation pressures driven by escalating Middle East tensions are contributing to higher rates.