Bitcoin Slips Below $63,000 as US-Iran Tensions Spook Markets

Bitcoin (BTC) briefly surged above $64,250 on Sunday before falling to $62,839 (-0.65%) as US-Iran tensions triggered a sharp shift toward risk-off sentiment across global markets.

The world's largest cryptocurrency pushed past $64,250 in early trade, a level it had failed to clear on several attempts through late June.

However, news of renewed hostilities between the United States and Iran hit the wires within hours, causing Bitcoin to give back most of its gains, sliding under $63,000 by the time European desks opened.

The session split neatly into two halves, with early buyers pushing Bitcoin to fresh multi-week highs only to watch those gains evaporate once the geopolitical picture darkened.