Bitcoin falls back below $63,000 as Iran-Israel trade strikes and Korean stocks crash
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Bitcoin BTC $ 62,667.11 pulled back from Sunday highs as renewed military conflict between Iran and Israel sent Asian stocks, including South Korea's Kospi index, sharply lower.
Key facts
The leading cryptocurrency by market value traded at around $62,900 at 4:00 UTC, having hit a high of $63,776 late Sunday, according to data source CoinDesk
WTI crude oil futures jumped over 3% to $93.50 as Iran and Israel traded airstrikes, ending the recent fragile ceasefire that had calmed energy markets
Still, Asian equity markets took a beating, with South Korea's KOSPI falling over 6.8%, prompting a temporary trade halt amid volatile conditions
Bitcoin BTC $ 62,667.11 pulled back from Sunday highs as renewed military conflict between Iran and Israel sent Asian stocks, including South Korea's Kospi index, sharply lower
Summary
Bitcoin slipped to about $62,900 after renewed military conflict between Iran and Israel rattled global markets and sent Asian stocks sharply lower. Oil prices jumped more than 3% and Asian equity indexes tumbled, even as President Trump urged Israel not to retaliate further against Iran. Rising oil and Treasury yields, recent outflows from spot bitcoin ETFs and broader risk-off sentiment have already driven bitcoin down about 14 percent, with volatility likely to stay elevated amid U.S. inflation data and major IPOs. The leading cryptocurrency by market value traded at around $62,900 at 4:00 UTC, having hit a high of $63,776 late Sunday, according to data source CoinDesk.