Bitcoin fell below $76,000, concerns about the Iran conflict rekindled, and the Federal Reserve took a hawkish stance

Bitcoin fell below $76,000 on Thursday, as geopolitical tensions in the Middle East escalated and inflation concerns suppressed risk appetite in global markets.

The world's largest cryptocurrency was last trading at nearly $75,700, down about 1-2% in the past 24 hours.

Bitcoin fell to a low of $75,337.4 on Thursday, after remaining near $78,000 the previous trading day.