US-Iran Conflict Sends Bitcoin Price Below $62,500

Bitcoin's price dipped below $62,500 at the Wall Street open on Friday as stocks took another hit from the US-Iran conflict.

The price action mirrored past behavior, with Bitcoin traders observing a familiar pattern of local highs sparking rejection and rangebound moves continuing.

The US-Iran war added to the pressure on stocks and cryptocurrency, with the Nasdaq Composite Index down nearly 2% at the time of writing.

Netflix's stock shed over 10%, trading at its lowest level since August 2024, according to The Kobeissi Letter.

Some analysts, like Rekt Capital, saw the bear market trend line now in place as resistance, copying historical patterns and indicating that the majority of the anticipated move has already happened.