Following renewed airstrikes between Iran and Israel, global risk appetite has significantly cooled. Oil prices rose, Asian stock markets plunged, and Bitcoin retreated from its Sunday high, falling to around $62,900 during trading.
Bitcoin has pulled back from its Sunday high.
According to CoinDesk data, Bitcoin rose to $63,776 late Sunday before giving up its gains. By approximately 4:00 UTC on June 8, the price had retreated to around $62,900.
This pullback occurred after tensions in the Middle East intensified again. The fragile ceasefire that the market had relied on was broken, with energy markets reacting first, followed by pressure on risk assets.
Rising oil prices pressure Asian stock markets.
WTI crude oil futures rose over 3% to $93.50. Rising oil prices typically heighten inflation concerns and reduce market appetite for riskier assets.
Asian stock markets fell in tandem. South Korea's Kospi index dropped more than 6.8%, triggering a temporary trading halt during the session; Japan's Nikkei index also declined over 3%.
President Trump called on Israel not to escalate its retaliation against Iran. According to the report, he said during a phone interview with Axios that both sides have already launched strikes and he does not want the situation to further escalate.
ETF outflows intensify market pressure
Bitcoin has recently been under multiple pressures. The report mentions that market performance has been weighed down by factors such as outflows from spot Bitcoin ETFs, rising popularity of AI-related stocks, and Strategy's sale of Bitcoin.
Last week, Bitcoin experienced a cumulative decline of nearly 14%, briefly dipping below the $60,000 mark during the period. Market volatility intensified as capital continued to flow toward more defensive or higher-demand assets.
- Bitcoin Sunday high: $63,776
- The latest price mentioned in the text: approximately $62,900
- WTI Crude Oil Futures: Rise Above $93.50
This week, several events continue to disrupt liquidity.
The report suggests that short-term volatility may remain elevated. In addition to geopolitical developments, the release of U.S. inflation data and progress related to major IPOs such as SpaceX and Anthropic could continue to influence global liquidity and risk appetite.
Amid simultaneous changes in oil prices, U.S. Treasury yields, and ETF fund flows, Bitcoin’s short-term price movement will remain driven by macro sentiment.