Bitcoin recedes to $63,000 as Iran-Israel trade strikes and Korean stocks crash
Key takeaways
- Published Jun 8, 2026, 4:21 a.m. 2 min read Make preferred on BTC's price.
- The leading cryptocurrency by market value traded at around $62,900 at 4:00 UTC, having hit a high of $63,776 late Sunday, according to data source CoinDesk.
- WTI crude oil futures jumped over 3% to $93.50 as Iran and Israel traded airstrikes, ending the recent fragile ceasefire that had calmed energy markets.
Published Jun 8, 2026, 4:21 a.m. 2 min read Make preferred on BTC's price. (Coin Desk)What to know: Bitcoin slipped to about $62,900 after renewed military conflict between Iran and Israel rattled global markets and sent Asian stocks sharply lower.Oil prices jumped more than 3% and Asian equity indexes tumbled, even as President Trump urged Israel not to retaliate further against Iran.Rising oil and Treasury yields, recent outflows from spot bitcoin ETFs and broader risk-off sentiment have already driven bitcoin down about 14 percent, with volatility likely to stay elevated amid U.S. inflation data and major IPOs.Bitcoin BTC$62,799.54 pulled back from Sunday highs as renewed military conflict between Iran and Israel sent Asian stocks, including South Korea's Kospi index, sharply lower.
The leading cryptocurrency by market value traded at around $62,900 at 4:00 UTC, having hit a high of $63,776 late Sunday, according to data source CoinDesk.
WTI crude oil futures jumped over 3% to $93.50 as Iran and Israel traded airstrikes, ending the recent fragile ceasefire that had calmed energy markets. U.S. President Donald Trump called for restraint and said he has requested Israeli Prime Minister Benjamin Netanyahu "not to retaliate".