Bitcoin retreats from monthly high as Iran attacks U.S. bases and profit-taking sets in

The crypto market is facing a wave of sell pressure with bitcoin BTC $ 64,385.50 and ether (ETH) losing 1.1% and 1.7%, respectively, since midnight UTC.

The shift to the downside comes after bitcoin rose to a monthly high of $65,500 on Wednesday, prompting some traders to take profits.

Altcoins PUMP and ZEC also declined, falling 4.4% each after Tuesday’s strong rallies faded, highlighting a lack of liquidity in both directions.

U.S. equities also lost ground. Futures on tech stock-dominant Nasdaq 100 index retreated by 0.25%, extending a downtrend that began 30 days ago.

One of the main catalysts for price action across all asset classes is the war in Middle East, with Iran launching attacks on U.S. military bases in neighboring Gulf states on Thursday and the U.S. continuing its wave of airstrikes.

CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.

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