Bitcoin Slips To $62K Amid US-Iran Tensions, Oil Rises
Bitcoindropped toward $62,000 on Monday as markets reacted to escalating US-Irantensions. President Trump said the US would “run” the Strait of Hormuz after Iran closed the key oil route. Analysts describeBTC. . .
Bitcoindropped toward $62,000 on Monday as markets reacted to escalating US-Irantensions. President Trump said the US would “run” the Strait of Hormuz after Iran closed the key oil route. Analysts describeBTC priceaction as “very weak” amid aggressive shorting, but a rebound to $70,000 remains possible. Bitcoin fell further into Monday’s Wall Street open, dropping toward $62,000 as nerves over the US-Iran conflict intensified. US stocks opened broadly in the red, with the Nasdaq Composite Index down 1% at the time of writing. - Advertisement -PresidentDonald TrumptoldFox Newsthat the US would take over the Strait of Hormuz, which Iran closed over the weekend. “We’re going to keep the strait, and we’ll probably run it,”he said, adding that the US should be reimbursed for its role as guardian. Oil prices stayed higher, with WTI crude circling $75 per barrel. BTC saw heavy selling pressure after the weekly close, with analytics account JDK Analysis describing“massive shorting”into the pre-New York open drop. In a post on X, they warned that $60,000 could reappear if the volume-weighted average price fails to hold. “With spot also selling, this still looks very weak,”they added, though noting that a bounce could trap many sellers. Meanwhile, commentator Exitpump reported a“crazy amount of aggressive shorting”as open interest continued to rise. However, trader Roman maintained a bullish bias, pointing to the relative strength index and volume as showing downside exhaustion. “Lots of HTF & LTF indications for 70-75k area,”he wrote on X,“It’s a matter of when not if. ”Data fromTradingViewconfirmed BTC/USD edging closer to $62,000 amid the ongoing geopolitical uncertainty. ✅ FollowBITNEWSBOTonTelegram,Facebook,LinkedIn,X. com, andGoogle Newsfor instant updates. - Advertisement -Previous Articles:AI-coded PowerShell script used in Active Directory intrusionNvidia Stock Rises 4% to $210, BofA Target $350Bank of Thailand scans stablecoin trades for illicit financeRWAs Overtake Bitcoin as Hyperliquid’s Largest Open InterestSK Hynix ADR gains vanish in under a dayStay in the Loop🔥Join 1. 2K Smart TradersGet exclusive crypto insights, breaking news, and market analysis delivered straight to your inbox. No fluff, just facts.