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Bitcoin tests $65,000 support amid Iran-US tensions, risking a drop to $60,000.

Market News
03 Jun 2026
Crypto news
View Source
Bearish
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Bitcoin price dropped 4.5% to around $65,700 following Iran's missile strikes on the U.S., triggering risk-off sentiment in crypto markets. Institutional outflows from U.S. Bitcoin ETFs continued, with $519 million withdrawn, marking 12 consecutive days of outflows and weakening demand. Technical analysis shows Bitcoin nearing a bearish rounding top pattern, with key support levels at $65,000 and $60,000; a break below these could lead to further declines. Market uncertainty remains high due to geopolitical tensions and potential increased Bitcoin supply from Mt. Gox wallets, suggesting cautious investor sentiment ahead.

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