Bitcoin drops below $63,000 as U.S.-Iran tensions rise

Bitcoin fell below $63,000 on Friday, July 17, 2026, as escalating U.S.-Iran military tensions triggered a broad retreat from risk assets, including equities and cryptocurrencies. The decline extended a pullback from earlier in the week and underscored Bitcoin's continued high correlation with traditional markets during periods of geopolitical uncertainty.

The price drop coincided with a sixth consecutive night of U.S. military strikes targeting infrastructure and military-linked sites in southern Iran, including bridges and facilities near key ports. Iran responded with retaliatory attacks in the Gulf region. The conflict drove oil prices toward $80 per barrel and pushed the U.S. Dollar Index to 100.79, factors that historically pressure risk-sensitive assets like Bitcoin. The sell-off was widespread, with Asian equity markets also falling sharply, led by significant losses in technology and semiconductor stocks.

The downturn followed a brief rally earlier in the week fueled by U.S. inflation data for June that came in below expectations. However, that positive momentum quickly faded. Bitcoin had briefly touched three-week highs near $65,900 before encountering resistance....