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Bitcoin falls below $61K as US-Iran tensions spark $664M crypto selloff

Market News
09 Jun 2026
Crypto news
View Source
Bearish
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Bitcoin's price dropped to an intraday low of $60,892 following US President Trump's announcement of a military response against Iran, triggering a global risk-off sentiment. This geopolitical tension led to $664 million in crypto liquidations, with Bitcoin traders accounting for $124 million of losses. Institutional demand is weakening, evidenced by $4.4 billion outflows from US Bitcoin ETFs and over 8 million BTC now underwater, signaling significant market stress. Investor fear remains high, and if Bitcoin breaks below $60,000, it could face accelerated declines toward $50,000 due to a liquidity gap, making the near-term outlook uncertain amid ongoing geopolitical and market pressures.

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