Bitcoin Slips Below $62.5K Amid Iran Tensions

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Bitcoin saw a key rejection at local highs before reversing lower, moving with stocks for a second day as US-Iran war downside took its toll.

Bitcoin (BTC) dipped below $62,500 at Friday’s Wall Street open as stocks took a fresh hit from the US-Iran war.

Bitcoin gives traders a sense of deja-vu as local highs spark rejection and rangebound moves continue.
The US-Iran war pushes stocks and crypto lower.
A bear-market trend line is now in place as resistance, copying historical patterns.

BTC price action stays “very choppy”

BTC/USD extending losses with up to 2% daily downside.

US stocks opened in the red, with the Nasdaq Composite Index also down nearly 2% at the time of writing. Fresh military strikes on Iran fueled the risk-asset retreat, while tech stocks continued to see selling pressure.

Trading resource The Kobeissi Letter also flagged weakness arising from earnings disappointments, with Netflix shedding over 10% to start the US session.

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