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 The cryptocurrency market experienced a severe downturn, pulling Bitcoin down to its lowest levels since early May. The slump was driven by escalating geopolitical tensions and diminishing investor risk appetite.

Bitcoin suffered a sharp decline, dropping to approximately $76.7k, before recovering a limited portion of its losses. The sell-off extended to other major cryptocurrencies, including Ethereum and Solana. The downturn coincided with massive liquidations of long positions, which exceeded half a billion dollars ($500 million) within a brief period during Asian trading sessions, intensifying downward pressure across the market.

Escalating tensions between the United States and Iran triggered a wave of aversion toward high-risk assets, prompting investors to rotate capital into safer havens. This shift ran parallel to a spike in crude oil prices and a surge in global bond yields.

Concurrently, US-listed spot Bitcoin Exchange-Traded Funds (ETFs) witnessed capital outflows exceeding $1 billion within a single week, signaling a contraction in short-term investor confidence.

Market observers noted that breaking the support level near $77.8k triggered a cascade of forced selling orders and stop-loss executions, accelerating the pace of the decline across the digital asset space. Markets are now monitoring Bitcoin's capacity to consolidate above the $76k support line, while a reclamation of the $80k threshold is viewed as a crucial indicator for restoring market equilibrium and cooling the ongoing sell-off.