Bitcoin Reclaims Key Threshold Amid Global Tensions

Bitcoin has reclaimed its key $63,000 threshold after experiencing a sharp drop of over 3% to below $61,500.

The sudden sell-off occurred amid growing military tensions and exchanges of fire between US and Iranian forces, but the cryptocurrency quickly rebounded.

According to Coinglass data, over $52 million in liquidations took place as Brent crude oil fell under $76 per barrel.

Despite this, structural bulls predict that bitcoin will strengthen past July due to macro debt outpacing liquidity shocks, supporting the thesis for fixed-supply assets once initial liquidity shock wears off.