Bitcoin Pulls Back as Risk of Prolonged War Weighs on Crypto

Bitcoin hovered around $68,000, erasing gains it made Monday, as a broader selloff in risk assets deepened amid mounting fears that the Iran war will continue to escalate.

The original cryptocurrency fell more than 4.5% to $66,171, before paring some of the decline. Stocks and bonds fell early Tuesday as oil prices spiked, only to trim losses amid assurances on American military action to secure shipping lanes through the Strait of Hormuz.