Bitcoin falls back below $63,000 as Iran-Israel trade strikes and Korean stocks crash

MarketsShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailBitcoin falls back below $63,000 as Iran-Israel trade strikes and Korean stocks crashBTC has pulled back from overnight highs as escalating geopolitical tensions weigh over risk sentiment and send oil price higher.By Omkar GodboleUpdated Jun 8, 2026, 4:36 a.m. Published Jun 8, 2026, 4:21 a.m. 2 min readMake preferred on 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$62,771.65 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 t…

Bitcoin falls back below $63,000 as Iran-Israel trade strikes and Korean stocks crash

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