Bitcoin price slides below $63K as Iran tensions shake crypto markets

Bitcoin fell below $63,000 as sellers broke the May range and the market slid to its weakest level since February. The drop extended a sharp decline from the May range and came as renewed U.S.-Iran tensions weighed on wider risk markets. The Kobeissi Letter said Bitcoin had lost about $400 billion in market value since May 11, while more than $1.6 billion in leveraged crypto positions were liquidated in 24 hours.

Earlier losses erased the $72,000 and $68,000 areas before prices broke below $64,000 and then $63,000, leaving BTC trading near the $60,000–$64,000 psychological zone. Crypto.news market data showed Bitcoin near $63,753 at press time, down almost 5% with a 24-hour low around $61,557, after a week of heavy selling that removed about 16% from its value.

Buyers have not yet built a clear recovery base, and BTC would need to reclaim higher levels before the short-term structure improves. Derivatives activity added pressure to the spot decline.

United States, Iran

bitcoin, btc, 63k, iran tensions, leveraged liquidations, market value, derivatives pressure, may range, 16% decline, kobeissi letter