Bitcoin dropped to its lowest level since late March, trading near $65,000 as selling pressure intensified. The decline coincided with rising oil prices and weakness in U.S. stocks following Middle East developments. Ethereum also fell sharply, testing support near $1,800.
Bitcoin tumbled more than 9 percent over the past week, briefly reaching $65,000 on Wednesday before a modest recovery to around $67,000. The move followed reports of Israeli Prime Minister Benjamin Netanyahu addressing tensions with Iran and Hezbollah, which lifted oil prices by about 2 percent. Over $1.7 billion in leveraged crypto positions were liquidated in the past 24 hours as prices fell. Strategy, formerly MicroStrategy, disclosed selling 32 Bitcoin last week, adding to market concerns about further sales to cover dividends on its preferred stock. Ethereum traded near $1,870 after dropping below $2,000, while several altcoins showed mixed performance. Technical models placed Bitcoin at one of its deepest discounts relative to long-term trend levels seen during prior market stress events.
