Bitcoin tumbled more than 5% to fall below $63,000 on Tuesday as investors continued to grapple with escalating tariff tensions and broader geopolitical risks.
The world’s largest cryptocurrency fell as low as $62,964.64 amid investor pressure to move away from risk assets.
“The move lower in bitcoin looks less like a crypto‑specific shock and more like a classic risk‑sentiment reset,” said Christopher Hamilton, head of client investment solutions, APAC excluding Japan at Invesco.
The plunge is likely a reflection of a “tactical de‑risking” rather than a structural exit, Hamilton added.
Last week, U.S. President Donald Trump said he would determine “over the next probably 10 days” whether to launch a strike on Iran amid its resistance to a new nuclear agreement.
Tensions have since intensified, with Washington continuing to deploy military assets across the Middle East.
Bitcoin has seen a sharp sell-off since October last year when it crossed $125,000, with the downturn extending into the new year. The world’s largest cryptocurrency is down 27% so far this year and has lost 50% since the October high.
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