Bitcoin price sags under $62.5K as Iran strikes add to US stocks pressure
Bitcoin fell below $62,500 as risk assets sold off after renewed US-Iran military strikes pressured markets. BTC/USD was down about 2% on the day and returned to its recent trading range after briefly reaching three-week highs. US stocks also opened lower, with the Nasdaq down nearly 2%, while weak tech earnings added to the selloff. Traders described Bitcoin’s recent behavior as choppy and repetitive, with brief dumps followed by passive buying and short-covering. Some analysts still see the range lows holding and expect a potential relief rally in the coming weeks. On the longer-term chart, Bitcoin has now flipped its 50-month EMA into resistance, which one analyst says mirrors prior bear-market behavior and suggests most of the anticipated downside move may already be complete.
