Bitcoin declined to $67,371 during early Asian trading on Monday, marking its lowest level since March 9, and subsequently traded mostly around the $68,000 mark. The weakness reflects a broad pullback in risk assets following an escalation of Middle East tensions over the weekend.

An analyst noted that the primary trigger was geopolitical. A 48-hour ultimatum issued by former President Trump—threatening to destroy Iranian power plants unless the Strait of Hormuz is reopened—drove a sharp rise in Brent crude prices.

So far this month, Bitcoin has been less affected by the Iran conflict compared to some traditional assets. Bitcoin is currently trading near its 200-week exponential moving average.

A research director observed that, based on historical patterns, these price zones often present favorable accumulation opportunities for those with a bullish outlook.

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