Bitcoin dropped 1.4% on Friday, trading just under $63,600 as a second straight day of losses pushed the largest cryptocurrency to a session low of $62,732. The broader crypto market wasn't spared: aggregate market capitalization fell 1.8% to $2.26 trillion. The sell-off came as a broader tech rout and fresh geopolitical tensions in the Middle East sent investors scrambling for safer bets.
What drove the drop
Friday's slide was part of a wider risk-off move. U.S. tech stocks took a hit earlier in the week, and by Friday morning the anxiety had spilled into crypto. Middle East tensions — the details of which are still unfolding — added another layer of caution. Traders rotated out of volatile assets, and bitcoin was one of the first to feel the pinch.
Friday's action
Bitcoin hit its low of $62,732 early in the European morning, according to data from CoinGecko. The 1.4% decline followed a similar drop on Thursday, making it the worst two-day stretch for the asset in weeks. The price hovered around $63,500 through the afternoon, but buying pressure was thin.
Market-wide impact
Ether and other major altcoins followed bitcoin lower. The aggregate crypto market cap of $2.26 trillion is down roughly $41 billion from the previous day. The pullback erases gains from earlier in the week, when bitcoin briefly touched $65,000. For now, the mood is cautious — and there's no clear catalyst on the horizon to reverse it.
