Bitcoin Tumbles Below $64,000 Amid US-Iran Conflict and Escalating US-China Tensions

Bitcoin prices plummeted below $64,000 on July 17 as fresh US strikes on Iran and renewed tensions between the US and China weighed heavily on risk assets.

The cryptocurrency slid to around $63,600, a decline of approximately 1.4% from its previous day's price of about $65,000.

Asian equities also took a hit, with Japan's Nikkei 225 falling nearly 3% and Australia's ASX 200 slipping 0.5%, according to CoinDesk.

Eamonn Sheridan, chief Asia-Pacific currency analyst at InvestingLive, commented on the escalating US-China tensions, stating that Trump's broad new allegations against China added fresh friction risk to ties ahead of a September meeting between Trump and Chinese President Xi Jinping.