Bitcoin slipped near the $70,000 mark on Tuesday, hitting a seven-week low amid escalating US-Iran tensions and nearly $744 million in crypto market liquidations over the past 24 hours. The world's largest cryptocurrency was last seen trading at $70,819, as rising geopolitical uncertainty weighed on investor sentiment.In the past 24 hours, Bitcoin fell 3.38%, and Ethereum was up 0.10% to trade at $1,995 mark. Among the major altcoins, BNB, XRP, Solana, Tron, and Cardano fell upto 3.21%, whereas Hyperliquid and Dogecoin were up 1.44% and 0.22% respectively.Also Read | International funds top return charts, but overseas investment limits persist. Should you continue SIPs or explore alternatives? Crypto TrackerTOP COINS (₹) 95 (0.22%)188,181 (-0.3%)64,740 (-1.69%)120 (-3.37%)6,679,025 (-3.83%)Akshat Siddhant, Lead quant analyst, Mudrex, said Bitcoin fell toward the $70,000 level after Iran suspended peace talks with the U.S., triggering a broader risk-off mood across global markets, and this move pushed BTC to a 7-week low, while continued ETF outflows failed to provide price support.The global crypto market capitalisation edged down 2.2% to $2.43 trillion, according to CoinMarketCap.The crypto market is witnessing a sharp reset as Bitcoin’s break below $71,000 triggered broader risk-off sentiment and forced leveraged traders out of crowded positions and the latest liquidation data shows over 152,000 traders were liquidated in the past 24 hours, with total liquidations near $744 million, indicating that the move was driven not just by spot selling but also by aggressive leverage unwinding, said Riya Sehgal, Research Analyst, Delta Exchange.Sehgal further said that macro headlines remain important and any progress on a potential Iran deal could ease oil and inflation concerns, but until liquidity, ETF flows and broader risk appetite improve, crypto markets may remain volatile and reactive to negative news.In the past week, Bitcoin and Ethereum were down 7.82% and 4.72%, respectively. Among the major altcoins, XRP, Solana, Tron, Dogecoin and Cardano corrected over 8%, whereas BNB and Hyperliquid were up 4.13% and 22.98%, respectively.Avinash Shekhar, Co-Founder & CEO, Pi42, said Bitcoin’s pullback below the $71,000 level appears to be driven more by geopolitical uncertainty than a deterioration in crypto fundamentals and escalating tensions between Israel and Hezbollah, along with continued uncertainty around a potential Iran deal, have pushed traders into a risk-off mode, triggering over $155 million in long liquidations.Also Read | Post Office MIS vs mutual funds: Which is better for income-seeking investors? Here is what other experts say about Bitcoin near $70,000 WazirX market’s desk: In crypto, Ethereum is facing increasing pressure, driven by structural changes within the ecosystem. Ethereum ETFs have continued to see outflows, further increasing pressure on the network’s valuation sustenance.CoinDCX Research Team: Bearish forces continue to dominate Bitcoin as the price slides below $71,000. Bitcoin whales have stopped buying as more supply is currently sitting under loss. The fear and greed index is also stepping down to 32 as the sentiments remain in fear. CoinSwitch Markets Desk: BTC’s dip below $71K came even as US equities and AI-linked stocks stayed firm, making the move more crypto-specific than broader risk-off. Strategy’s 32 BTC sale is small versus its 840K+ BTC holdings, but it does slightly shift how investors read the company’s treasury playbook.Vikram Subburaj, CEO, Giottus: Bitcoin entered June in a markedly different position from where it began the second quarter. The immediate pressure came from institutional flows. US spot Bitcoin ETFs recorded roughly $2.1 billion in net outflows between May 18 and June 1. The largest single-day withdrawal during the period was about $733 million on May 27.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@timesinternet.in alongwith your age, risk profile, and Twitter handle.