#Gate广场五月交易分享 Tensions in the Middle East escalate, risk aversion shifts to the US dollar

The uncertainty of the macroeconomic situation has become another straw that breaks Bitcoin's back.
According to analyst interpretations, around Tuesday, May 10th, as tensions in the Middle East intensify, the overall crypto market collectively declined, with Bitcoin's price dropping 1% from $80,984.66 UTC midnight to around $80,800, which is consistent with the current price of $80,732.80.
The core logic behind this is that former U.S. President Trump stated that the US-Iran ceasefire agreement is "in critical condition," sparking market concerns over escalating Middle East tensions.
Brent crude oil prices once rose to $107 per barrel (as of May 11, Brent crude closed at $104.58 per barrel), and the US dollar index (DXY) rose 0.4% in tandem, further increasing by 0.06% on May 11 to close at 97.955.
It is worth noting that the US-Iran situation remains a continuous game: on May 7 local time, Trump stated that the US-Iran ceasefire agreement is still valid, but military conflicts around the Strait of Hormuz have escalated, with U.S. forces and Iran confronting each other in the region.
Iran has even initiated a new maritime traffic management mechanism, warning passing ships to follow Iranian-regulated routes.
This ongoing tension has shifted market risk sentiment toward traditional safe-haven assets (the US dollar, crude oil), weakening the safe-haven attribute of crypto assets.
Bitcoin, as a core crypto asset, has naturally been dragged down.
However, the positive news is that Bitcoin is still above the key support level of $76,000, as stated by Tom Lee, chairman of Bitmine (BMNR).
He said that if Bitcoin can stay above this level by the end of the month, it will confirm the end of the bull market—this also serves as an important psychological support for the current market.