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Bitcoin slides under $63,000 amid Iran strikes and US China tensions
Bitcoin traded near $62,800 and dipped below its 50-day simple moving average as WTI crude rebounded toward $79, reviving inflation and rate concerns.
Bitcoin fell below $63,000, trading near $62,800, as fresh US airstrikes on Iran and renewed US China tensions triggered a broader risk-off sell-off across global markets, according to Bitcoin Magazine Pro data.
The pullback extended Thursday’s 1.4% slide from $65,000, and the price moved under its 50-day simple moving average, a gauge traders use for near-term momentum.
Bitcoin’s retreat coincided with weakness in major equities, including Japan’s Nikkei 225 down 4%, Hong Kong’s Hang Seng down 2%, and China’s Shanghai Composite down 3.1% to an 11-month low.
Bitcoin Magazine also pointed to resilient on-chain activity and renewed ETF inflows as evidence that buyers were stepping back into the market after the drop, even as crude oil rose near $79 a barrel and the US China dispute raised concerns about ties ahead of a September meeting between President Donald Trump and Xi Jinping.
Latest closeWTI crude $95.27 ▲3.4%|Bitcoin $84,310.25 ▼0.1%|Nikkei 225 65,513.99 ▲0.8%