Bitcoin rebounds above $63,000 as oil retreats after US-Iran shock

Bitcoin climbed back above $63,000 on Thursday after dropping below $62,000 and briefly under $61,500 during renewed US-Iran fighting that had lifted oil prices and pressured risk assets. The rebound came as Brent crude retreated below $76 a barrel and U.S. Treasury yields eased, helping improve appetite for crypto and other higher-risk assets. Market stress also appeared to moderate, with Coinglass data showing roughly $52 million in combined bitcoin long and short liquidations on Thursday versus $65 million in bitcoin long liquidations alone a day earlier. Even with the recovery, sentiment remained fragile. The Crypto Fear & Greed Index stayed in Extreme Fear at 22, up only slightly from 19 a week earlier, while traders continued to focus on bitcoin’s closely watched $60,000 support area. Analysts differed on the move’s significance: some said it reflected a temporary dollar- and liquidity-driven shock tied to energy and inflation fears, while others pointed to neutral funding rates and bitcoin’s quick rebound as support for a longer-term fixed-supply thesis. Those longer-term views were presented as analyst opinions, not established outcomes.