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Bitcoin fell on Thursday as global risk sentiment deteriorated amid escalating tensions in the Middle East.
The geopolitical backdrop is driving capital toward safe-haven assets while simultaneously pushing US Treasury yields higher, tightening financial conditions.
This combination weighs on non-yielding assets such as Bitcoin, amplifying downside momentum. Institutional flows offered little support at this stage. Spot Bitcoin ETFs recorded just USD 7.8 million in inflows yesterday, failing to offset recent outflow trends.
Derivatives positioning reinforced the bearish tone. Over the past 24 hours, long liquidations were larger than short liquidations, with the imbalance even more pronounced during shorter timeframes, increasing the risk of further downside if sentiment fails to stabilise.
Meanwhile, regulatory uncertainty persisted. The progress of the CLARITY Act introduces a potential long-term catalyst, but ongoing disagreements within the industry highlight that a clear framework is not yet guaranteed, placing additional selling pressure on the cryptocurrency.
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