Bitcoin Plummets as US-Iran Breakthrough Triggers Profit-Taking

Bitcoin's price dropped significantly after a breakthrough in US-Iran talks led to profit-taking across risk assets and accelerated liquidations in crypto markets.

The price fell to an intraday low of $62,560 on June 23, with spot Bitcoin ETFs recording net outflows of $68 million, extending weak institutional demand seen since mid-May.

Analysts warn that a breakdown below the current support near $62,000 could expose the June low around $59,200, while derivatives positioning shows large leverage concentrations remaining visible between $65,500 and $66,000.