The International Monetary Fund (IMF) downgraded its global growth forecast to 3.1% and issued a recession warning in the event the US-Iran conflict worsens, and elevated oil prices persist until 2027.

After falling from a high of $126,000, Bitcoin has traded in a tight range between $60k and $70k last month.

But this week, the top token has picked up pace to trade under $74,000. However, the IMF’s caution emphasises the precarious economic climate that can have a detrimental effect on digital assets.

As things continue to get worse, the IMF has warned that a worldwide recession is becoming more likely. The international body cited the ongoing crisis in Iran and the expectation that oil prices will continue over $100 until 2027 as…