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Bitcoin Falls Below $62,000 as US-Iran Conflict Escalates
Oil prices jumped above $75 a barrel as traders priced in higher inflation and a possible Federal Reserve rate hike, pressuring Bitcoin.
- On Wednesday, President Donald Trump declared the US-Iran ceasefire "over" during a NATO summit in Ankara, Turkey, causing Bitcoin to drop below $62,000 after Wall Street opened.
- Escalating tensions in the Middle East pushed West Texas Intermediate crude oil above $75 per barrel, while the ceasefire's collapse triggered daily Bitcoin price downsides circling 2.5%.
- Crypto analyst Michaël Van de Poppe identified $61,000 as a "crucial" support level, noting the price remains hovering above $60,000 despite Middle East tensions.
- Recent events shifted Federal Reserve policy expectations, with data from the CME Group FedWatch Tool indicating a 55% probability of an interest-rate hike in 2026.
- Trader Jelle told followers on X that a "textbook Bitcoin bottom" is underway, with analysts suggesting market stabilization could occur within 1-2 days.
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19 Articles
19 Articles
Bitcoin tumbled as renewed geopolitical tensions rattled digital asset markets, eclipsing what had been a muted reaction to Strategy Inc.’s latest sale of the token earlier in the week.
·New York, United States
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Bitcoin Falls Below $62,000 as Iran Ceasefire Collapse Sparks Global Market Jitters
Bitcoin extended its losses on Wednesday, slipping below $62,000 as investors reacted to renewed geopolitical tensions in the Middle East following U.S. President Donald Trump’s declaration that the ceasefire with Iran was “over.” The world’s largest cryptocurrency fell to around $61,500 during Wall Street trading, giving up recent gains as broader financial markets shifted toward […] The post Bitcoin Falls Below $62,000 as Iran Ceasefire Collap…
Coverage Details
Total News Sources19
Leaning Left1Leaning Right1Center3Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 20%
C 60%
R 20%
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