Bitcoin Gains as Iran War Driven Volatility Hits Oil and Stocks

Bitcoin climbed past $71,000 as equity markets fluctuated, with traders responding to uncertainty over future oil supply amid ongoing tensions from the Iran war.

The original cryptocurrency rose as much as 4% to $71,785 on Tuesday before later paring some of those gains to trade around $70,200. The rebound began Monday after President Donald Trump suggested that he is looking to bring the conflict to an end. Oil extended its decline Tuesday as lawmakers looked to assure investors that policy interventions could cushion the war’s impact on energy prices.