Bitcoin Falls Below $63K Amidst Geopolitical Uncertainty

Bitcoin (BTC) dropped to $63K lows on Friday amidst rising geopolitical uncertainty and US strikes against Iran. The uncertainty weighed heavily on risk assets, including crypto.

The move followed two days of gains driven by lower-than-expected US inflation data. However, those gains quickly dissipated as tech stocks sold off and retail investors locked in profits.

Analyst Rekt Capital noted that Bitcoin was showing early signs of rejection from its 50-month exponential moving average at $65,900. Exitpump pointed to the anchored VWAP from Bitcoin's $82,000 top in early May as a key resistance level.

The US Central Command confirmed strikes on Iran for the sixth consecutive night, targeting coastal surveillance sites, air defense systems, military logistics, and maritime infrastructure.

BlackRock CEO Larry Fink remained bullish on crypto, saying he is optimistic about its prospects for the next 12 months.