Bitcoin slips below $63,000 as US–Iran tensions rattle risk assets
A flare-up between Washington and Tehran pushed crude past $80 a barrel and sent traders out of risk. Bitcoin fell under $63,000, and the market's mood turned to "extreme fear."
Bitcoin dropped below $63,000 on Tuesday as renewed tensions between the United States and Iran drove investors out of risk assets and pushed crude oil above $80 a barrel — adding fresh inflation pressure to a market already on edge.
The total value of the crypto market fell to about $2.23 trillion, and the closely watched Fear & Greed Index slipped to 22, deep inside the "extreme fear" zone where sellers tend to control the action.
According to CoinDesk, Bitcoin held near $62,600 after a six-day winning streak came to an end and selling returned as the geopolitical picture darkened.
Key levels to watch
The June inflation report lands this week, and markets are pricing in roughly a 40% chance of a rate hike — a scenario that would add further pressure on crypto. For now, traders are watching whether Bitcoin can defend the low-$60,000s or whether the next move takes it lower.
Based on reporting by Coin Gabbar and CoinDesk · read the original.