Just noticed Bitcoin's down about 2.5% in the last day while the broader market is also taking hits. Curious thing though - for why did bitcoin drop today, it's not just crypto stuff, the S&P and Nasdaq are both off over 1% too. So there's definitely some broader market pressure happening.

The geopolitical situation with Iran seems to be weighing on everything. I've been watching why did bitcoin drop today and honestly the sell-off feels pretty measured considering how tense things are getting. Oil's already moving up, which usually spikes volatility everywhere. Some people have been questioning whether Bitcoin actually works as that safe-haven asset, but if you look at the actual price action during conflict escalation, it's holding up better than you'd expect.

So why did bitcoin drop today? Part of it is just macro pressure, part of it is the Middle East tensions. BTC is currently around 76K and down about 19% over the past year, which is actually not terrible given everything happening. The real test is whether why did bitcoin drop today becomes why did bitcoin hold up when things get really messy. If inflation picks up from supply chain issues and Bitcoin stays relatively stable through that, that'd be pretty bullish for the long-term case. We'll see how this plays out over the next few weeks.