Bitcoin Price Drops Below $63,000 Amid Increased Selling Pressure

Bitcoin's price has been on a downward trend, breaking below the $63,000 mark due to increased selling pressure. This move has pushed BTC to its weakest level since February, with over 1 billion dollars in liquidations occurring within 24 hours.

The latest drop came as renewed tensions between the US and Iran weighed on risk markets. The crypto market's overall sentiment has shifted, leading to a broader decline of around 16% from Bitcoin's previous price.