Bitcoin has dropped 2.1% to $75,633, down 3% on the week, as oil prices reached a four-year high. The drop comes amid reports that President Donald Trump is set to receive a briefing on military options against Iran, which could mark the first time American forces have used hypersonic missiles in combat. The war premium, which is driven by conflict risk rather than supply-demand fundamentals, has been rising as Brent crude oil prices jumped by 7.1%. The global benchmark is now on a nine-day winning streak, the longest since May 2022, and is up over 100% year-to-date. The dollar gained and bonds slid as the surge in oil and a hawkish Fed hold sapped demand for fixed income. However, risk assets are giving back gains across the board, with Nasdaq 100 futures erasing an earlier 1.1%, MSCI's Asia Pacific share index falling 1.4%, and European equities expected to drop 1%.