Bitcoin has fallen to around $62,900 after failing to hold $64,000 resistance. Crypto is falling in step with equities as Treasury yields surge and geopolitical tensions rise.

The Pullback

Bitcoin retreated to around $62,900 after hitting resistance near $64,000, wiping out recent gains. Ethereum fell 1.56% to roughly $1,771. Sentiment shifted sharply: the Fear & Greed Index dropped to 20, down from 27 in less than a day—firmly in fear territory.

What's Driving It

Two pressures are combining: rising Treasury yields and geopolitical uncertainty. The 10-year Treasury yield surged toward 4.58%, while Iran tensions have rattled risk appetite across all asset classes. When yields rise and uncertainty spikes, crypto—being highly sensitive to shifts in liquidity and risk appetite—tends to move first and hardest.

The ETF Story

Bitcoin spot ETFs recorded net outflows exceeding $290 million, signaling unease among both retail and institutional investors.

What to Watch

Bitcoin's next critical level is $63,500. If it breaks below, momentum-driven selling could accelerate. Watch the 10-year yield—if it remains elevated above 4.50%, both equities and crypto will face sustained pressure. Any escalation in geopolitical tensions could trigger a broader flight to safety, favoring dollars and Treasuries over risk assets.