21:59 - 8.07.2026

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July 8, Fineko/abc.az. Bitcoin suffered a sharp decline as resurfacing geopolitical tensions between the US and Iran dampened investor risk appetite. Following US President Donald Trump’s announcement that the temporary ceasefire with Iran has ended, the largest cryptocurrency dropped by more than 3%, falling below the $62,000 threshold.

Caroline Mauron, co-founder of Orbit Markets, noted that Trump's remarks accelerated the sell-off due to market anxieties over fuel-driven inflation and potential interest rate hikes. While Brent crude jumped by over 5%, Bitcoin — which had started July on a strong note with a 5.5% gain — reversed course and headed downward alongside other altcoins like Ether and Solana.