Bitcoin Drops Again as Bhutan Transfers More BTC and US Mulls Sending 10,000 Troops in Iran

Bitcoin’s price slipped once again on Friday morning, dropping to a multi-day low of $67,500 after it was rejected at nearly $69,000 hours ago.

This means that the asset has lost approximately $4,500 in just a couple of days, as it peaked at $72,000 on Wednesday. The latest daily dip comes as the Royal Government of Bhutan continues to transfer some of its BTC holdings, likely with the intention of selling.

They have made multiple such transfers since the price correction at $72,000 began, moving over $45 million worth of the cryptocurrency.

US to Send Troops to Iran?

In addition to Bhutan’s actions that might have impacted BTC’s price drops, the war in the Middle East continues to take multiple turns daily. Just yesterday, US President Trump bragged that Iran was “begging” to make a deal and even sent 10 ships with oil as a “present.”

Today, though, reports emerged claiming that the US is mulling sending up to 10,000 additional ground troops to the region to give Trump “more military options.” They will be added to the 5,000 marines and the “thousands of paratroopers from the 82nd Airborne Division.”

Although the report doesn’t clarify where the forces will be placed in the Middle East, they will likely be within striking distance of Iran and Kharg Island. This adds to another claim from yesterday that the Pentagon was preparing to carry out a massive “final blow” against Iran.

Sentiment Back to FUD

Crypto sentiment has been deep in an ‘extreme fear’ state for weeks, but there was a short-lived revival in the middle of the week when BTC jumped to $72,000. However, the tides have turned once again, as reported by the analytics company Santiment, and the retail crowd is back to showing “signs of getting more and more bearish, expressing FUD toward Bitcoin and crypto.”

However, the analysts have long claimed that BTC typically tends to move in the opposite direction of what the crowd expects from it, which could mean that the current environment is a strong “buy signal.”

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