Bitcoin slid below $62,000 last week. The drop followed a sharp deterioration in US-Iran relations, and it put fresh pressure on a narrative that has been building for years: that Bitcoin is a reliable safe-haven asset amid geopolitical crisis. But it is not behaving like one right now.
The cryptocurrency fell as low as $61,954 on Binance's Tether (USDT) market, a decline of more than 3% from recent trading ranges. Bitcoin was down 2.18% to $62,772.01 on a 24-hour basis, with a seven-day loss of 1.61%. The numbers varied slightly across platforms, but all pointed the same way: sustained selling at levels that had previously held as support.
