IBIT is trading 3.27% down today following a sharp selloff in Bitcoin driven by Iran's rejection of a U.S. ceasefire proposal and escalating Middle East tensions.
- Bitcoin fell to approximately $69,400 as investors rotated toward safe-haven assets, while Ethereum also declined over 4%.
- Oil prices surged above $100 per barrel amid supply disruption concerns, intensifying inflation worries and pressuring risk-on assets including cryptocurrencies.