• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
Bitcoin

Bitcoin Drops Below $63,000: Are Geopolitical Issues And Gold Movements To Blame?

Ronaldo Marquez
by Ronaldo Marquez
1 year ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

On Tuesday, Bitcoin (BTC) fell below the critical $63,000 threshold, reflecting a broader decline in the cryptocurrency market, which has shed nearly $200 billion in total market capitalization over the weekend. 

This drop follows Bitcoin’s recent two-month peak of $66,500, achieved just last Friday, which had ignited bullish sentiment among investors looking forward to the last quarter of the year. However, a series of geopolitical developments, particularly rising tensions in the Middle East, may test the resilience of risk assets like Bitcoin. 

Bitcoin Under Pressure As Investors Sell Into Gold

Market expert Jeroen Blokland, founder of the Blokland Smart Multi-Asset Fund, noted that global investors are increasingly selling Bitcoin to purchase gold, a trend evident in the BTG chart below, considered a significant factor contributing to Bitcoin’s recent price correction.

Bitcoin
Bitcoin/Gold chart showing BTC’s recent sell-off. Source: Jeroen Blokland on X
Related Reading: Google Searches For Bitcoin Keyword Crashes, Why This Is Bullish For Price

Blokland connects the cryptocurrency’s struggles to escalating tensions between Iran and Israel, which have intensified over the past month. The situation has raised concerns about investor confidence, as gold is a historically stable asset that can hedge against volatility in the digital currency market. 

The situation escalated further on Tuesday when missiles were reportedly launched from Iran toward Israel, prompting urgent warnings from the White House. Officials indicated that Iran was preparing for a potential ballistic missile attack on Israel, heightening fears of a broader conflict in the region. 

The White House has stated that it is actively supporting defensive preparations for Israel and warned of severe consequences for Iran should a military attack occur.

Historically, Bitcoin has been referred to as “digital gold,” but with ongoing economic uncertainties coupled with geopolitical unrest, fears of a global recession loom large. This volatility may prompt investors to seek refuge in more stable assets, contributing to Bitcoin’s downward pressure.

Analysts Warn Of Overbought Conditions

Analysts have also raised concerns about Bitcoin’s overbought conditions following the nearly 5% climb in the week leading up to September 27. This surge coincided with a significant increase in net inflows into global crypto exchange-traded products (ETPs), reaching their highest levels since mid-July.

Last week, the combined net buying volume of US Bitcoin exchange-traded funds (ETFs) amounted to 16,774 BTC, surpassing the typical one-month supply of newly mined Bitcoin, which stands at about 13,500 BTC. 

Related Reading: 1 Billion Transactions Hit – How Did Arbitrum Reach This Milestone So Quickly?

However, this bullish sentiment faced a reality check on Monday when Federal Reserve (Fed) Chair Jerome Powell cautioned investors during mid-afternoon trading. 

According to CNBC, Powell indicated that the central bank is not following a predetermined path while further rate cuts are on the horizon. This statement led to a cautious mood among investors, perhaps contributing to the recent pullback in the market’s largest cryptocurrency.

Bitcoin
The 1D chart shows that BTC’s price retraced below $63,000. Source: BTCUSDT on TradingView.com

At the time of writing, BTC is trading at $62,130, down over 2% in the last 24 hours.

Featured image from DALL-E, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Ronaldo Marquez

Ronaldo Marquez

Follow

Ronaldo is a seasoned crypto enthusiast with over four years of experience in the field. He is passionate about exploring the vast and dynamic world of decentralized finance (DeFi) and its practical applications for achieving economic sovereignty. Ronaldo is constantly seeking to expand his knowledge and expertise in the DeFi space, as he believes it holds tremendous potential for transforming the traditional financial landscape.

Full Profile

Related Posts

Retail Investors Return to Binance As Bitcoin Hits New All-Time High

Retail Investors Return to Binance As Bitcoin Hits New All-Time High

3 minutes ago
Bitcoin news

The NSA Is Trying To Backdoor Bitcoin, Warns Peter Todd — Here’s How

7 hours ago
Bitcoin

Bitcoin Spot Volume Rebounds As Price Hits ATH, But Still Far Below Late-2024 Highs

10 hours ago
Bitcoin & Ethereum

Bitcoin, Ethereum Lead Record $5.95 Billion Inflows Into Crypto Funds

14 hours ago
bitcoin_btc_btcusd_optimized

Morgan Stanley Endorses Bitcoin as “Digital Gold,” Tells Advisors to Allocate Up to 4% to Crypto

16 hours ago
bitcoin price btc btcusd

Bitcoin Price Pulls Back From $125K Record High: Analysts See Path Toward $170K in Q4

20 hours ago

Premium Sponsors

Press Releases

  • Fleet Asset Management Group Brings the Power of Cloud Crypto Mining in a Low-Carbon Package.

    Fleet Asset Management Group Brings the Power of Cloud...

    8 hours ago
  • The Quiet Market Shift Investors Might Be Missing: How Tapzi Is Challenging Institutional Favorites

    The Quiet Market Shift Investors Might Be Missing: How...

    4 days ago
  • Investors Search for Long-Term Upside in This Under-$0.01 Crypto of 2025 Tapzi

    Investors Search for Long-Term Upside in This Under-$0.01...

    4 days ago
  • MoonBull Presale Explodes with over 11,800% Projected ROI as Uptober Sends the Market Soaring

    MoonBull Presale Explodes with over 11,800% Projected ROI...

    4 days ago
  • 狗狗幣引領『Uptober』Meme...

    5 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.