Concerns over a military conflict between the United States and Iran have led to a decline in Bitcoin's value. As of 8 a.m. on July 9, Bitcoin was trading at $62,262, down 1.98% from the previous day, according to global cryptocurrency market site CoinMarketCap.
Analysts attribute the drop in Bitcoin's price to increasing geopolitical risks.
On July 8, U.S. President Donald Trump stated, "It seems the memorandum of understanding has ended," and announced, "We will strongly attack Iran again tonight." This follows a series of events including attacks on commercial vessels in the Strait of Hormuz on July 6-7, U.S. airstrikes in response on July 7, and subsequent attacks on U.S. military bases in the Middle East by Iran on July 8.
Concerns about inflation are also rising, with Federal Reserve officials anticipating an increase in interest rates.
Major altcoins also experienced declines. Ethereum fell 2.01% to $1,741, while Solana dropped 4.25% to $77, and XRP decreased by 2.17% to $1.09.
Meanwhile, at the same time on the domestic exchange Bithumb, Bitcoin was trading at 93.11 million won (approximately $61,790), reflecting a 0.64% increase from the previous day. The so-called "Kimchi premium"—the difference between domestic and international prices—was at a negative 0.66%.
* This article has been translated by AI.
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