Bitcoin Slumps as US-Iran Tensions Weigh on Crypto Markets

Bitcoin's price has dropped by 0.65% over the past 24 hours and 1.94% in the week following renewed US-Iran tensions.

The cryptocurrency had briefly crossed $64,250 before falling back, as traders took a more cautious stance due to increased uncertainty.

Bitcoin's price has been trading within a narrow band, stuck between $60,000 and $65,000, with the $60,000 level acting as an important support zone.

Nagham Hassan, Market Analyst at eToro, stated that Bitcoin remains caught between three forces: an unsettled geopolitical backdrop, a four-year cycle that still points to a bear-market phase, and capital reallocation toward AI companies and major initial public offerings.