BTC falls 14 percent from recent highs as geopolitical tensions and risk-off sentiment pressure markets ahead of U.S. inflation data.
Bitcoin retreated to $62,900 after Iran and Israel exchanged airstrikes, triggering a broader risk-off move in global markets. The cryptocurrency had peaked at $63,776 late Sunday before sliding amid heightened geopolitical uncertainty and a sharp decline in Asian equities.
Oil prices surged over 3 percent to $93.50, while South Korea’s KOSPI index plunged 6.8 percent. Recent outflows from spot bitcoin ETFs and rising Treasury yields have also weighed on sentiment, contributing to a 14 percent pullback from recent highs.
U.S. President Donald Trump urged Israel to avoid further retaliation, but markets remained volatile. Traders are now eyeing upcoming U.S. inflation data and major IPOs for further direction.