Bitcoin fell toward $62,000 on Monday as escalating U.S.-Iran tensions triggered broad risk-off sentiment across financial markets. The BTC/USD pair remained under pressure, with analysts warning that a break below $60,000 could open the door to further losses.
Geopolitical risks and market impact
Iran's supreme leader military adviser Yahya Rahim Safavi said on April 14 that a memorandum of understanding between Iran and the U.S. no longer exists and that "the enemy has officially entered a state of war." The remarks heightened fears of a wider Middle East conflict, sending investors fleeing from risky assets. Bitcoin briefly touched the $62,000 level before stabilizing.
JDK Analysis described the current price action as "very fragile," noting that large short positions are betting on further declines, making the $60,000 zone a key battleground. However, trader Roman pointed to technical indicators such as RSI and volume, suggesting downside momentum could weaken. If fresh spot buying emerges and key support holds, shorts may face pressure, and Bitcoin could rebound toward the $70,000–$75,000 range.
Macro and regulatory developments
U.S. inflation data showed the CPI rose 3.5%, below market expectations, according to Watcher Guru. The slowdown in price growth could influence Federal Reserve policy expectations, adding another layer for risk assets.
In Japan, payment network JCB partnered with Circle to explore using USDC for cross-border settlements and merchant transactions, starting with an internal proof-of-concept. The move aims to improve payment efficiency and reduce remittance costs and currency exchange burdens for tourists. Separately, Lawson convenience stores plan to begin yen-pegged stablecoin payment tests in August.
Pete Rizzo claimed on X that South Korea will soon push for a Bitcoin spot ETF, citing the country's economic scale and potential capital inflows from Asia. No details on approval timing, asset managers, or listing exchanges were provided.
On-chain and institutional moves
UK tax authorities recognized crypto loans and liquidity pool transactions as "no gain, no loss" events, deferring capital gains tax until actual disposal. The policy is set to take effect in April 2027 and is expected to affect around 700,000 people.
Robinhood Chain recorded approximately $3.1 billion in DEX trading volume in its first week, becoming one of the top five blockchain networks by volume, according to Bernstein data. Since its July 1 launch, the chain has attracted over 65,000 users, with about $300 million in stablecoins and $13 million in tokenized equities deployed.
A whale sold 30,139 ETH for 859 BTC, worth $54.09 million, at an ETH/BTC rate of 0.0285, signaling a bet on Bitcoin outperformance. Meanwhile, Circle minted an additional 750 million USDC on Solana, bringing its total issuance on the network to approximately 68.26 billion in 2026, indicating growing liquidity on Solana.
Senator Elizabeth Warren urged Senate leadership to include ethics rules in the Clarity Act that would ban public officials and their families from profiting in the crypto industry, as the bill's conflict-of-interest provisions become a focal point in Senate debate.