Trump weighs broader Iran military action as market risk appetite weakens

Cryptocurrencies stayed under pressure in a broader risk-off move as fresh military strikes on Iran and renewed selling in U.S. technology stocks weighed on sentiment. Bitcoin fell below $62,500 at Friday’s Wall Street open, extending daily losses to as much as 2% after recently reaching three-week highs, while the Nasdaq Composite was down nearly 2% and Netflix dropped more than 10% at the start of the U.S. session. Traders said the price action reflected the same rangebound pattern that has dominated recent weeks, with no decisive breakout in either direction. Some market participants still saw scope for a relief rally over the next few weeks if range lows continue to hold, while analyst Rekt Capital said Bitcoin has reached a key long-term technical milestone after flipping its 50-month exponential moving average into resistance, a pattern he argued has historically preceded a final move toward a bear-market floor. The broader backdrop remained shaped by escalating U.S.-Iran tensions, weakness in global equities and softer U.S. inflation data that had earlier improved the macro outlook for digital assets.