Bitcoin recedes to $63,000 as Iran-Israel trade strikes and Korean stocks crash

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin recedes to $63,000 as Iran-Israel trade strikes and Korean stocks crash BTC has pulled back from overnight highs as escalating geopolitical tensions weigh over risk sentiment and send oil price higher. By Omkar Godbole Jun 8, 2026, 4:21 a.m. 2 min read Make preferred on BTC's price. (CoinDesk) What to know : Bitcoin slipped to about $62,900 after renewed military conflict between Iran and Israel rattled global markets and sent Asian stocks sharply lower. Oil prices jumped more than 3% and Asian equity indexes tumbled, even as President Trump urged Israel not to retaliate further against Iran. Rising oil and Treasury yields, recent outflows from spot bitcoin ETFs and broader risk-off sentiment have already driven bitcoin down about 14 percent, with volatility likely to stay elevated amid U.S. inflation data and major IPOs. Bitcoin BTC $ 62,871.10 pulled back from Sunday highs as renewed military conflict between Iran and Israel sent Asian stocks, including South Korea's Kospi index, sharply lower. The leading cryptocurrency by market value traded at around $62,900 at 4:00 UTC, having hit a high of $63,776 late Sunday, according to data source CoinDesk. WTI crude oil futures jumped over 3% to $93.50 as Iran and Israel traded airstrikes, ending the recent fragile ceasefire that had calmed energy markets. U.S. President Donald Trump called for restraint and said he has requested Israeli Prime Minister Benjamin Netanyahu "not to retaliate". "I am going to call Bibi right now and tell him not to retaliate," he told Axios in a telephonic interview. "Israel had its strike and Iran had its strike. We don't need another one." Still, Asian equity markets took a beating, with South Korea's KOSPI falling over 6.8%, prompting a temporary trade halt amid volatile conditions. Japan's Nikkei index also fell over 3%. The latest spike in oil prices could only add to the upward momentum in the U.S. Treasury yields, which surged Friday following the release of the blowout monthly U.S. jobs report. Hardening of Treasury yields typically boosts demand for the dollar and dollar equivalents and weighs over riskier assets like cryptocurrencies. Bitcoin has already taken a beating for several reasons, including Strategy's BTC sale, the AI stock frenzy, and the exodus of capital from spot bitcoin ETFs. Prices fell nearly 14% last week, briefly penetrating the $60,000 mark. Volatility could remain high this week as geopolitical tensions, coupled with key data releases such as U.S. inflation and major IPOs like SpaceX and Anthropic, are likely to influence liquidity dynamics. Bitcoin News More For You Bitcoin near $60,000 today vs February: Institutional sentiment has flipped By Omkar Godbole | Edited by Nikhilesh De 12 hours ago Bitcoin’s return to $60,000 is drawing heavy ETF outflows, marking a sharp reversal from February when institutional selling eased into the dip. What to know : Bitcoin has returned to about $60,000, but unlike in February, spot bitcoin ETF investors are now selling heavily into the price dip. U.S.-listed spot bitcoin ETFs saw $1.72 billion in net outflows last week, the largest weekly redemption in over a year and far above the $318 million outflow when... Read full story Latest Crypto News A quick review of the Ways and Means tax bills: State of Crypto 7 hours ago Michael Saylor revives bitcoin-buy speculation as scrutiny over Strategy grows 10 hours ago Bitcoin near $60,000 today vs February: Institutional sentiment has flipped 12 hours ago Bitcoin's slide has no single cause. AI, tech IPOs, quantum, Strategy sale all play a role, NYDIG says 12 hours ago Abra’s Bill Barhydt says Wall Street’s next crypto bet is tokenization 13 hours ago Ethereum Foundation cuts and departures aren't a crisis, Joe Lubin says 15 hours ago Top Stories Bitcoin, ether eye worst weekly rout since FTX collapse as cryptos shed $390 billion Jun 6, 2026 Satoshi-era bitcoin at center of $285 billion lawsuit moves after 14 years Jun 6, 2026 America’s largest banks are building a new digital currency network to stop a massive deposit drain Jun 6, 2026 A massive hiring wave reveals trading firms are no longer viewing Polymarket as a niche betting tool Jun 6, 2026 Why diehard bitcoin purists aren’t sweating the massive price crash that wiped out $200 billion Jun 5, 2026 A crypto pioneer who turned a $20 million family stake into a billion-dollar fund doubles down on bitcoin Jun 6, 2026