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Before rebounding, Bitcoin briefly plunged into the USD 61,400 – USD 62,200 range on July 8-9. The sharp drop was driven by rising global geopolitical tensions after statements about the end of the ceasefire between the US and Iran, which triggered profit-taking and a shift of funds into assets viewed as safer.
Analysis Note: The USD 60,000 to USD 62,000 level is currently a highly crucial psychological support boundary. As long as Bitcoin can hold above this range, secondary bullish momentum to retest higher resistance levels remains wide open. Market participants are advised to stay disciplined and continue monitoring global macro dynamics.$BTC $META