Analysis: Bitcoin falls back to $72,300 due to the dual impact of geopolitical conflicts and inflation data.

Bitcoin prices quickly fell to $72,300, a 24-hour drop of about 2%, influenced by escalating tensions in the Middle East and stronger-than-expected US inflation data. Ethereum (ETH), Solana (SOL), and XRP all fell by nearly 3%, putting pressure on risk assets overall. In terms of news, US President Trump issued a tougher signal against Iran, calling it the "number one state sponsor of terrorism" and hinting at a potential further escalation. Meanwhile, the attack on Iran's South Pars gas field, the reported killing of Iran's intelligence minister by Israel, and the US use of heavy bombs to strike missile facilities near the Strait of Hormuz exacerbated market tensions, pushing WTI crude oil prices from around $92 to nearly $96. On the macroeconomic front, US PPI rose 0.7% month-on-month in February, higher than the expected 0.3%; core PPI rose 0.5%, also higher than expected. It is worth noting that this inflation data did not yet factor in the recent surge in oil prices, further exacerbating market concerns about sticky inflation and weakening expectations of interest rate cuts. Against this backdrop, the cryptocurrency market and US stock futures weakened in tandem, with the three major stock index futures reversing gains to fall by approximately 0.4%. Market focus shifted to the upcoming Federal Reserve interest rate decision and Chairman Powell's comments on growth risks and inflationary pressures. Meanwhile, Trump reiterated his public call for interest rate cuts, adding a political variable to the meeting. (CoinDesk)