Bitcoin Slips Under $62K as Trump Iran Ceasefire Ends
Bitcoin (BTC) slid to around $61,500, down more than 3%, after President Donald Trump said the US-Iran ceasefire is “over” at the NATO summit. The comments followed renewed US strikes on Iran after attacks on cargo ships in the Strait of Hormuz, lifting war-risk fears and reversing BTC’s early July bounce.
Ethereum (ETH) and Solana (SOL) also fell as traders reduced risk exposure. Oil jumped about 5% (US crude near $77/bbl), reinforcing macro pressure tied to Middle East escalation.
BTC had gained about 5.5% in July and recently traded just under $63,000, still more than 50% below its October record above $126,000. With geopolitical headlines driving risk-off flows, BTC’s near-term focus is the $60,000 pivot: losing it could intensify volatility and renew downside interest toward the prior bear-market low near $57,700 and potentially $55,000.
CryptoQuant noted BTC rebounded roughly 11% from ~$57,700 to near $64,000 before this pullback. Flow indicators have improved (demand recovery and slower spot selling), but bullish momentum remains weak, keeping correlation with risk sentiment and energy moves likely.
Bearish
Geopolitical escalation tied to US-Iran conflict is pushing a clear risk-off move in crypto. BTC is already sliding toward a key technical pivot at $60,000, where liquidity-driven volatility can quickly accelerate. Even with some improvement in demand/spot-selling flows, the articles emphasize weaker bullish momentum (low Bull Score) and the likelihood of continued correlation with broader risk sentiment and oil price swings. That combination increases the odds of a bearish continuation below $60K, potentially dragging price toward ~$57,700 and $55,000.