BITO is trading 3.01% down as escalating U.S.-Iran tensions near the Strait of Hormuz fuel renewed risk aversion and weaken Bitcoin and Ethereum.
- Higher oil prices have revived inflation concerns, while rising Japanese and U.S. bond yields pressure global risk assets.
- Softer U.S. job-opening and manufacturing data have not offset broader growth and valuation concerns.
- The move appears sector-wide: Bitcoin was reported down 1.2% after Iran-related strikes, with Japan rate-hike risks and persistent macroeconomic uncertainty also cited.