Bitcoin (BTC) is struggling to hold the $64,000 level as escalating military clashes between the U.S. and Iran fuel repeated sharp swings. After briefly touching $64,600 on Monday, the price plunged to $61,200 following a large sell-off by Strategy, then rebounded to $64,700 before retreating again. As of now, BTC is oscillating around $64,000 with a market cap of $1.28 trillion and a dominance rate of 56.8%.
Geopolitical Jitters and Volatility
Over the past 24 hours, renewed U.S.-Iran hostilities have kept Bitcoin pinned below $64,000. Over the weekend, the coin traded in a tight $62,400-$63,400 range, then broke above $64,000 on Monday morning. However, a massive sell order from Strategy sent it crashing to $61,200. Unlike previous dips, Bitcoin quickly bounced back to $64,600 but failed to sustain gains. When the U.S. and Iran broke a ceasefire and resumed attacks mid-week, BTC slid again to $61,600 before buyers stepped in, pushing it back to $64,700. The recovery stalled, leaving the price fluctuating near $64,000.
Altcoins Mixed, DEXE Surges 17%
Altcoins are largely directionless, with a few exceptions. Ethereum (ETH) is battling the $1,800 resistance, while XRP, SOL, DOGE, XLM, ADA, and BNB have edged lower. TRX, Hyperliquid, and XMR posted modest gains. Zcash (ZEC) rose about 5% to $525, RAIN gained 3% near $0.015, and UNI traded at $3.65. DEXE standout surged over 17% to break $43, leading large-cap altcoins. Some small- and mid-cap coins also saw double-digit gains, but BEAT plummeted 20% after a previous day's spike, highlighting the volatile environment. Total crypto market cap dipped slightly to approximately $2.26 trillion.
Key Level to Watch
Bitcoin's short-term direction remains heavily influenced by macro factors and geopolitical risks. Whether it can reclaim and hold $64,000 will likely determine market sentiment in the coming days.