The conflict between the United States and Iran continued to escalate, with a rise in risk-averse attitudes in the market and a parallel increase in oil prices and the United States dollar, resulting in a weakening of bitcoin. Bitcoin fell to about $6.25 million on 17 July, and then recovered slightly to the vicinity of $6.3.15 million, still recording a significant decline on that day, and the United States stock futures continued.

The geologic situation pushes the risk trade.

According to the United States Central Command, United States forces have struck Iranian military targets for the sixth consecutive night, involving coastal surveillance systems, air defence facilities, logistical infrastructure and maritime assets. At the same time, local sources claimed that part of Iran ' s southern transport facilities had also been attacked, including near the transport node at the port of Abbas.

Preliminary information indicates that Iran subsequently launched a counter-attack in the Gulf region and reports of related attacks were received from Qatar, Bahrain, Jordan, Kuwait and Iraq. As the conflict spreads, traders begin to reassess changes in energy, inflation and global risk preferences.

Against this background, on 17 July, international oil prices rose to around $80 per barrel and the United States dollar index to 100.79. While a strong dollar usually suppresses risk assets denominated in United States dollars, rising energy prices can also increase inflationary pressures and weaken market demand for high-risk assets.

Bitcoin comes back fast after it's lost.

The data show that bitcoin fell by 3.5 per cent that day, with the lowest touch on the plate of about $6.25 million, and then recovered part of the loss. The short-term focus is on the line of $631.67 million, a position that is seen by the market as an important current support.

In the light of recent trends, Bitcoin has been hampered on several occasions between $65,000 and $66,000, and the rebound has not been sustained. If a subsequent effective fall of $631.67 million is achieved, an important support under the market will be moved down to the vicinity of $57.77.9 million; to be re-emergence, $673.96 million would be required.

The White House made a statement to increase market pressure.

In addition to the situation in the Middle East, domestic political news in the United States has increased market volatility. In a White House speech, Trump again raised allegations about the 2020 United States elections and urged Congress to promote the SAVE America Act, which contains voter status and citizenship requirements.

However, this assertion is not supported by the established findings of the United States intelligence system. The British Guardian quoted Chinese and American intelligence officials as stating that the core allegations relating to Trump lacked evidence. Several Democrat parliamentarians criticized it for reopening controversial election issues rather than focusing on issues such as living costs, housing and health care.

Despite short-term market pressure, Chief Executive Larry Finkle of Beled has recently been optimistic about the future prospects for encrypted assets for the next 12 months, and claims that Bitcoin is relatively stable in the current region. For the time being, the market is more concerned about whether the purchase will hold the $6.3167 million in support at a time when geohazard risks and political news are on the rise.