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Bitcoin falls below $62,500 as US-Iran tensions pressure risk assets
BTC extended daily losses of about 2% at the Wall Street open, tracking a broad slide in US tech and the Nasdaq.
Bitcoin dipped below $62,500 at the Wall Street open on Friday, extending losses of up to about 2% on the day, as US-Iran war developments weighed on risk assets, according to Cointelegraph.
The crypto move coincided with a fresh pullback in US equities, with the Nasdaq Composite down nearly 2% at the time of writing, as military strikes on Iran increased pressure on tech stocks.
Cointelegraph also pointed to weakness linked to earnings, including Netflix dropping more than 10% at the start of the US session, with one tracker citing the stock at its lowest level since August 2024.
In separate analysis shared via Cointelegraph, trader and analyst Rekt Capital said Bitcoin’s long-term downtrend appears to be nearing its final stages, noting BTC/USD has flipped its 50-month exponential moving average to resistance and that the July relief bounce may be ending into next month.
Latest closeBitcoin $64,048.49 ▲0.4%|Nasdaq Comp. 25,881.95 ▼1.5%