Markets Bitcoin Dips Below $64,000 Amid New U.S. Strikes on Iran and Trump’s China Remarks
Geopolitical tensions and increasing concerns over U.S.-China relations are impacting risk assets, including bitcoin.
By Omkar Godbole Updated Jul 17, 2026, 4:14 a.m. Published Jul 17, 2026, 4:10 a.m. 2 min readMake preferred on Share Share this article Copy link X (Twitter)LinkedInFacebookEmailMake preferred on
BTC's price drops below $64,000. (CoinDesk)Summary Show- Bitcoin's value decreased following recent U.S. airstrikes on Iran that affected risk sentiment.
- Asian stock markets declined, with Japan’s Nikkei dropping nearly 3%.
- The Australian dollar weakened after President Donald Trump accused China of interfering in the U.S. elections.
Bitcoin BTC fell to $63,446.29 on Friday, reflecting a broader decline in Asian equities after the U.S. conducted airstrikes in Iran, which heightened geopolitical tensions. Additionally, President Donald Trump’s claims of Chinese interference in the 2020 election dampened risk appetite, leading to a decline in the Australian dollar.
The leading cryptocurrency fell to $63,600, continuing from a nearly 1.4% decrease the day before, down from $65,000, as per CoinDesk data. At present, it is trading beneath its 50-day simple moving average, a key indicator of short-term market momentum.
Asian markets suffered losses, with Japan’s Nikkei index plummeting nearly 3%, reaching its lowest point in over a month. The ASX 200 in Australia decreased by 0.5%, while futures related to Nasdaq dropped by 0.8%. Wall Street's tech-focused index also fell more than 1.6% on Thursday.
According to Iran's semi-official Fars news agency, U.S. airstrikes targeted five bridges in the Hormozgan province, and a missile struck the Chabahar maritime control tower. Surprisingly, WTI oil futures remained stable at around $79 per barrel, despite the geopolitical tensions stemming from the recent U.S. strikes.
Meanwhile, the Australian dollar, which is sensitive to commodity prices and acts as a G7 proxy for China, fell against the U.S. dollar amid fears of renewed tensions between the two nations.
On Thursday night, Trump announced the release of intelligence reports claiming that China had interfered in U.S. elections, alleging that Beijing had accessed 220 million U.S. voter records, labeling it a significant threat to democracy. The Chinese embassy has denied these allegations.
While the dispute itself may not have immediate market implications, the potential strain on U.S.-China relations before Trump’s scheduled meeting with Xi in September may be causing unease among AUD traders.
“Trump's recent sweeping accusations against Beijing just weeks before that meeting create a new source of friction risk in a relationship that was beginning to stabilize,” stated Eamonn Sheridan, Chief Asia-Pacific Currency Analyst at InvestingLive, in a market update.
“Such rhetoric could complicate the diplomatic landscape leading into September, irrespective of the actual facts,” Sheridan noted.
The decline of the AUD may serve as an indicator that escalating U.S.-China tensions could increase uncertainty and affect other risk assets, including bitcoin.
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Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
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CEX trading volumes increased for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes reaching a record $311B.
By CoinDesk Research Jul 13, 2026CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters:
CEX trading volumes increased for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
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