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Geopolitical escalation in the Middle East drove $BTC back toward $61,000 after two failed tests of $64,000 earlier in the week, pulling $XRP, $ADA, and $SOL down more than 5% each and erasing over $60 billion in total crypto market capitalization inside 24 hours.
Bitcoin's market cap sits at $1.225 trillion, with dominance over altcoins at 56%. The Geopolitical Catalyst Reports emerged that Iran had shot down a U.S. president stated that a response would be required.
The headlines triggered an immediate sell-off across both crypto markets and Wall Street, with $BTC dropping to just under $61,000 within hours.
The move was driven by macro sentiment, not any shift in on-chain conditions. BTC's Bruising Week in Context The current retreat extends an already punishing stretch for the primary cryptocurrency.
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