Oil Surges, Bitcoin Drops Below $63K as Iran-Israel Tensions Spike

Bitcoin

The crypto market is already in Extreme Fear (F&G 8) and Bitcoin has shed 13% in the last week, suggesting many weak hands have already exited. This geopolitical shock could accelerate a final washout, but historically such events create V-shaped recoveries once de-escalation begins. The market's extreme fear reading also acts as a contrarian signal that a bottom may be near, provided the conflict doesn't spiral.

Iran and Israel exchanged strikes for the first time since the April 8 truce, escalating hostilities and undermining the ceasefire.