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Bitcoin fell below $64,000 on Friday as fresh U.S. airstrikes on Iran increased geopolitical uncertainty. President Donald Trump’s new claims about China added more pressure to global markets and reduced demand for risk assets.
Bitcoin Extends Decline From $65,000
Bitcoin dropped to around $63,600, extending a decline of nearly 1.4% from Thursday’s level near $65,000. The cryptocurrency also fell below its 50-day simple moving average, a level used to track short-term price trends.
Live market data later placed Bitcoin near $63,100, with a 24-hour trading range between approximately $63,136 and $64,932. The asset was down about 2.7% over the previous day.
The decline reversed part of the recovery that followed softer U.S. inflation data earlier in the week. Bitcoin had briefly moved above $65,000 as traders reduced expectations for another Federal Reserve interest-rate increase. The new conflict brought oil prices, inflation risks and the threat of a wider war back into focus.
U.S. Launches Fresh Strikes On Iran
The latest selling followed reports of another wave of U.S. airstrikes on Iranian infrastructure. Five bridges in the southern Hormozgan province were hit. A separate missile strike reportedly damaged the maritime control tower at Chabahar. The affected areas are close to important shipping routes and energy infrastructure.
The attacks increased fears of further retaliation from Iran and additional disruption around the Strait of Hormuz. The waterway is a major route for global oil shipments, making any escalation a potential threat to energy supplies and inflation.
West Texas Intermediate crude held near $79 per barrel despite the latest attacks. Oil’s limited immediate reaction suggested that traders had not yet priced in a major new supply disruption.
Asian Stocks and Crypto Assets Weaken
The risk-off move spread beyond Bitcoin. Japan’s Nikkei fell nearly 3% and reached its lowest level in more than a month. Australia’s ASX 200 dropped about 0.5%, while futures linked to the Nasdaq declined approximately 0.8%. The Nasdaq had already fallen more than 1.6% during Thursday’s U.S. session.
Other major cryptocurrencies also moved lower. Ether fell more sharply than Bitcoin, while Solana and XRP recorded additional losses. The broad decline showed that investors were reducing exposure across the digital asset market rather than reacting to a Bitcoin-specific development.
Trump’s China Claims Increase Uncertainty
Market concerns increased after Trump announced the declassification of intelligence reports alleging Chinese interference in U.S. elections. Trump claimed that China had obtained 220 million U.S. voter records and described the alleged activity as a major threat to democracy. The Chinese Embassy denied the accusations.
The comments came before a planned September meeting between Trump and Chinese President Xi Jinping. Renewed tensions between Washington and Beijing could complicate trade and diplomatic discussions before that meeting.
The Australian dollar fell against the U.S. dollar after the comments. Traders often view the currency as a measure of market sentiment toward China because of Australia’s close commodity and trade links with the country.
Geopolitical Risks Weigh on Bitcoin
Bitcoin’s latest decline shows that the asset continues to trade like a risk-sensitive investment during periods of geopolitical stress. Further U.S.-Iran attacks, Iranian retaliation or disruption to oil shipments could increase inflation expectations and weigh on cryptocurrencies. Rising oil prices may also reduce the likelihood of easier Federal Reserve policy.
Bitcoin could recover if tensions ease and the price rises back above its 50-day moving average. Continued weakness in stocks, higher oil prices or worsening U.S.-China relations may keep the cryptocurrency below $64,000.
