Bitcoin fell below the $64,000 mark on Friday, caught in a fresh wave of geopolitical uncertainty. The drop came after the U.S. launched a new strike on Iran and former President Donald Trump made a comment on China that rattled global markets.
The trigger
The U.S. military conducted a strike on Iranian targets Friday. Around the same time, Trump weighed in on China with a remark that traders interpreted as a threat to trade relations. The combination spooked risk assets across the board.
Bitcoin's reaction
Bitcoin slid in tandem with equities and other risk-on assets. The move below $64,000 put the cryptocurrency at its lowest level in two weeks. The selloff was sharp, driven by macro headlines rather than any crypto-specific event.
What traders are watching
The immediate focus is on whether the U.S. strike will draw a military response from Iran, and whether Trump's China comment signals a new phase in trade tensions. The $64,000 level has been a key psychological threshold for Bitcoin. Its breach adds to the uncertainty.
For now, the market is digesting two shocks at once. Bitcoin's next move will depend on whether the geopolitical situation stabilizes or deteriorates further.
