Bitcoin dives 3% on global asset rout as $5K gold 'smashed' on oil fears

Bitcoin bulls gave up their latest mission to reclaim $70,000 as Iran escalation sparked oil supply fears that gripped stocks and gold.

Bitcoin (BTC) erased its latest trip to $70,000 on Tuesday as Middle East tensions sparked a global asset sell-off.

Key points:

Bitcoin and major asset classes all fall after the closure of the Strait of Hormuz.

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