Bitcoin Falls Below $64,000 as Tech Rout and IBM Plunge Weigh

Bitcoin, the world’s leading cryptocurrency, is widely viewed as a barometer for risk assets. A recent escalation in geopolitical conflict has pushed oil prices higher, while stress in Japan’s bond market and the prospect of selling by Strategy have heightened investor concerns about a renewed global regulatory crackdown. Together, these headwinds have put Bitcoin at risk of retesting a key psychological threshold. Whether that support holds will be an important signal for the broader digital asset market.

Geopolitical risks weighed on risk assets after former US President Donald Trump warned in mid-July that the United States would forcibly operate the blocked Strait of Hormuz. Bitcoin briefly fell below $62,000 on July 15 before testing support at $60,000. The latest data, however, showed signs that panic selling was stabilizing on July 16 as sellers’ profit margins fell to zero. The market is now watching closely to see whether Bitcoin can hold the $60,000 level.

Bitcoin held the $60,000 level in the third quarter of 2024, leading markets to regard it as important support. Technology shares across Asian markets have continued to fall recently, pressuring risk assets and increasing cryptocurrency volatility. A loss of this key support could weaken investor confidence and affect subsequent capital allocation.

The latest daily candle showed Bitcoin closing below $60,000 for the first time since September 2024, and it continued to hover beneath that level afterward. Markets are bracing for a pivotal week, with analysts saying the former $60,000 support zone is gradually turning into resistance as technology stocks enter a “deep bear market.”

Bitcoin came under pressure in early 2026 from liquidations of highly leveraged positions, net outflows from U.S. spot Bitcoin ETFs and selling by miners, with losses deepening in February. Crypto assets and riskier investments such as U.S. stocks have declined in tandem, pushing market sentiment into extreme fear. Analysts also view BTC as having entered a technical bear market.

Bitcoin fell below $63,000 in February 2026 and briefly traded near $62,500, marking its lowest level of the year, while a weekly rebound quickly faded. Spot cumulative volume delta showed intensifying selling pressure. Market analysts identified $60,000 as key support; a break below that level could send the cryptocurrency into the $56,000–$60,000 range in the short term.

Bitcoin has lost both the psychological $60,000 threshold and support at $58,000, signaling weakening demand from buyers. Technical analysts say breakdowns from both a rounded top and a bear flag suggest the market may be shifting from consolidation into a decline, with implications for risk appetite across the broader cryptocurrency market.

The latest wave of selling has erased Bitcoin's gains for June, with the drop to $58,000 confirming a technical breakdown. Market analysts expect the price could test $54,000 over the coming days. If that level also fails to hold, the decline could extend below $50,000.

Bitcoin often moves in tandem with risk assets such as technology stocks. When chip shares sell off and investors turn more cautious in Asian equity markets, cryptocurrencies can also face deleveraging and risk-off selling. The latest decline reflects waning investor risk appetite, making Bitcoin's ability to hold the $62,000 level an important gauge of near-term market confidence.

During Asian trading on Tuesday, a selloff in chip stocks deepened for a second consecutive day, pushing Bitcoin below $62,000 to an 11-day low, its weakest level in nearly two weeks. Market analysts warned that Bitcoin could retest $54,000 if Asian technology stocks continue to fall and trigger further capital outflows. That would be about $8,000 below the $62,000 threshold, a decline of roughly 13%.

Some investors have long viewed Bitcoin as an alternative safe-haven asset during stock-market turmoil, but simultaneous pressure on technology stocks and crypto assets is weakening that argument. The conflict in Iran pushed Brent crude above $90 a barrel, while the U.S. Labor Department reported a 6.5% year-on-year increase in the producer price index. CME FedWatch data showed the probability of a Federal Reserve rate increase in September climbing to 40% from 5% a month earlier.

In the seven days through June 10, 2026, the Nasdaq 100 plunged 7.5%, wiping out $2.7 trillion in market value. U.S. spot Bitcoin ETFs recorded $1.9 billion in net outflows in June. Strategy paused Bitcoin purchases over the same period to ease pressure from its convertible debt, while the annualized premium on two-month Bitcoin futures fell below the neutral threshold of 4%, putting the $60,000 support level to the test.

Bitcoin's latest decline was triggered by an escalation in the war involving Iran, new U.S. government tariff policies and a stronger yen, with risk assets coming under pressure across the board. The cryptocurrency market has lost about $2 trillion in value, reflecting a marked retreat in capital and liquidity. The $60,000 level is both a technical support zone and a key psychological threshold, making it central to whether the selloff deepens.

Bitcoin recently fell below $65,025, initially triggering more than $430 million in long liquidations. As the price moved closer to $60,000, long liquidations swelled to more than $600 million. Crypto liquidations across the market exceeded $1.1 billion at one point over 24 hours, affecting nearly 200,000 traders. Traders had estimated a 53% chance that Bitcoin would fall below $66,000 by April 24, while the market also saw about $1 billion in put-option bets at the $60,000 level.

Tensions between the United States and Iran escalated in July 2026, prompting fears of a wider conflict, disruptions to energy supplies and renewed inflation. Global investors pulled money from equities and crypto assets as a result. Bitcoin, Ethereum and U.S.-listed crypto-related stocks came under pressure, while traditional safe-haven assets such as gold and silver drew buying interest.

During the latest selloff, global oil prices surged as much as 6% in a single day, while the Dow, S&P 500 and Nasdaq all closed lower. Bitcoin fell below $65,000 in July, and Ethereum broke below support at $1,900. Shares of cryptocurrency trading platforms, miners and other crypto-related companies also broadly declined during U.S. trading hours.

Bitcoin is highly sensitive to interest rates and risk appetite. Conflict in the Middle East and the Strait of Hormuz crisis have driven up oil prices and inflation concerns, while rising U.S. Treasury yields have pushed capital toward safe-haven assets such as the dollar. The latest decline has also affected liquidity across the broader cryptocurrency market.

As of July 19, Bitcoin had fallen about 3% over 24 hours, dropping below $67,000 and touching a two-week low. The U.S. 10-year Treasury yield approached 4.5%, near a one-year high, while about $300 million in long positions were liquidated. Core Scientific separately sold $175 million worth of Bitcoin and plans to redirect the proceeds into AI data centers and high-performance computing operations.

Bitcoin and risk assets such as U.S. stocks are highly sensitive to the outlook for U.S. interest rates. A hotter-than-expected Producer Price Index from the U.S. Labor Department pushed back market expectations for Federal Reserve rate cuts. Persistent bond-market concerns over inflation and broader economic risks drove capital toward safe-haven assets such as gold, putting cryptocurrencies under selling pressure.

Bitcoin initially fell to about $65,000 in a weekend sell-off, while Solana, XRP and Dogecoin each dropped about 6%. Although Bitcoin and U.S. stocks briefly stabilized afterward, the cryptocurrency failed to hold above $66,000. Market analysis remained cautious on March 27, with Bitcoin holders' unrealized losses estimated at $600 billion. Only some AI-related tokens continued to attract buying interest.