Bitcoin slid below $63,000 on July 17, dropping to an intraday low of $62,924.8 as US military strikes on Iran sent investors scrambling for the exits across virtually every risk asset on the board. The 2.8% decline marked the second consecutive day that Bitcoin moved in lockstep with US equities.
The numbers tell the story
The sell-off didn’t happen in a vacuum. Oil prices surged toward $80 per barrel as the conflict escalated, while the US dollar index climbed to 100.79.
For context, Bitcoin started 2026 trading above $93,000. At current levels, the asset is down roughly 28% from its January price.
Bitcoin’s safe-haven problem
