Crypto 350

06/23 09:39

Bitcoin price drops toward key support as U.S.-Ira

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Bitcoin price drops toward key support as U.S.-Iran news sparks profit-taking, can bulls defend?Bitcoin price has retreated toward key support after progress in U.S.-Iran talks sparked a broad selloff across risk assets and accelerated liquidations in crypto markets.Summary Bitcoin price fell to an intraday low of $62,560 as easing U.S.-Iran tensions sparked profit-taking across risk assets. Spot Bitcoin ETFs recorded another $68 million in outflows, extending weak institutional demand seen since mid-May. BTC is testing support near $62,000, with analysts warning a breakdown could expose the June low around $59,200.According to data from crypto.news, Bitcoin price slid as much as 2.2% to an intraday low near $62,560 on June 23 before stabilizing around the $62,800 area. The drop followed a sharp drop in crude oil prices, which fell below $73 per barrel after Washington granted Iran a 60-day license to sell oil on international markets and reports emerged that Tehran could regain access to $12$12 billion in frozen funds as part of a developing agreement with the U.S. The risk-off move extended beyond crypto. Gold fell roughly 2% over the past day, while silver dropped more than 5%. Asian equities also weakened, with Japan’s Nikkei 225 andHong Kong’s Hang Seng Index posting losses as investors locked in profits across technology and semiconductor stocks that had led gains earlier this ye

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