Bitcoin Tumbles Below $63K Amid Global Market Retreat

Bitcoin's price fell below $63,000 on Friday amid widespread risk asset liquidation, as investors reevaluated their optimism about a potential US-Iran diplomatic breakthrough.

The cryptocurrency declined to around $62,700, marking a 1.9% loss over the past day and a 1.3% decrease for the week, according to CoinDesk figures.

The broader market saw similar declines, with major altcoins such as Ether, XRP, Solana, and BNB posting losses ranging from 2.3% to 3.2%

Asian equity markets retreated on Friday, with South Korea's KOSPI index falling 0.6%, Japan's Nikkei 225 closing 0.2% higher, and Australia's ASX 200 dropping 1.2%.