Bitcoin recedes to $63,000 as Iran-Israel trade strikes and Korean stocks crash
Bitcoin pulled back from Sunday highs as renewed Iran-Israel fighting hit global risk markets. BTC traded around $62,900 after briefly reaching $63,776, while Asian stocks slumped, with South Korea’s KOSPI falling more than 6.8% and Japan’s Nikkei down over 3%. Oil surged as airstrikes ended the fragile ceasefire, with WTI crude rising over 3% to $93.50. The jump in energy prices, along with recent strong U.S. jobs data, pushed Treasury yields higher, which can support the dollar and pressure risk assets like crypto. Bitcoin was already under strain from recent selling pressure, including ETF outflows and broader market weakness, and fell nearly 14% last week. Volatility may stay elevated as geopolitical tensions, U.S. inflation data, and major IPOs shape liquidity and risk appetite this week.
