Bitcoin and major cryptocurrencies retreated as escalating U.S.-Iran tensions triggered a broader risk-off move across markets. Despite the near-term weakness, analysts continue to see longer-term accumulation opportunities.

Leading cryptocurrencies and stocks fell on Tuesday, July 7, after U.S. strikes on Iran and the revocation of the oil sanctions waiver rattled investors.

Major cryptocurrencies are trading in the red as renewed U.S.-Iran airstrikes push oil higher.