Bitcoin Price Drops Below $63,000 as Global Risk Assets Sell Off

Bitcoin slipped below the $63,000 level on Friday as a broad sell off in global risk assets erased earlier gains linked to optimism from the US-Iran peace deal. Btc traded near $62,300, showing a daily decline of around 2% and a weekly drop of about 1.4%.

The weakness spread across the crypto market. Ether fell 2.3% to $1,695, XRP dropped 3.2% to $1.13, Solana declined 3.2% to $69. Hyperliquid’s HYPE fell 3.7% but remained the top performer of the week with a 13.2% rise.

Market Pressure Follows Global Economic Shift

The sell-off also reflected wider financial market stress. Global equities eased in thin holiday trading while Brent crude oil fell around 9% on the week to near $79 a barrel after shipping routes stabilized under the US-Iran agreement.

Bitcoin is now testing the lower end of its recent trading range, with analysts watching $59,000 to $60,000 as key support levels. A deeper drop could open the door toward $45,000, depending on market momentum.