Bitcoin Price Plummets to 10-Week Lows Amid Global Risk Conditions

Bitcoin's price has been affected by global risk conditions, leading to a decline to 10-week lows below $72,000. The recent Iran developments and sales by Michael Saylor's Strategy have contributed to this decrease in value.

The Crypto Fear and Greed Index remains in 'Fear' territory, indicating a bearish trend. This suggests that the market is experiencing fear and uncertainty, rather than confidence and optimism.

Looking at the chart, Bitcoin's price is still within its bearish channel and has fallen below its 100-day moving average for the first time since mid-April. The near-term bias remains to the downside as long as it stays below this level.