EL7.AI
CryptoUpdated×10•Originally published 13 July 2026•Updated 13 July 2026•
1 min read

Bitcoin Slides Toward $62,000 as Hormuz Tensions Resurface

Key Facts

1Bitcoin maintained its stability near the $63,800 level despite a broad selloff in traditional markets.
2Gold, oil, stocks, and bonds moved sharply following the fourth round of U.S. strikes on Iran.

Amid renewed fears of global supply chain disruptions, the cryptocurrency market surrendered its recent gains as selling pressure returned. According to reports, Bitcoin dropped over 2% to approach the $62,000 level on July 13, following President Donald Trump's announcement of new shipping fees in the Strait of Hormuz region, which led to a rapid deterioration in trader risk appetite.

This decline follows a failed attempt to stabilize above the $64,000 mark, as high-risk assets were impacted by escalating geopolitical tensions. Per market data, altcoins faced similar pressure alongside rising volatility indices, reflecting the digital sector's sensitivity to political developments in vital waterways. Experts note that falling back below psychological support levels could open the door for further technical correction.

Market participants are now watching for BTC stability around $62,150 (close July 13, 2024) to determine if the slide will extend toward lower support zones. On the economic calendar, investors are focusing on U.S. retail sales data and Fed official comments, as these data points will play a crucial role in determining the dollar's direction and the ability of digital assets to absorb current geopolitical shocks.

Latest Updates · 3

  1. Notable·

    Update: The downward momentum accelerated as over $315 million in long positions were liquidated within 24 hours, intensifying selling pressure. This move resulted in Bitcoin breaking below the critical $60,000 psychological support level, potentially opening the door for further technical testing.

  2. Notable·

    Update: Selling pressure intensified following remarks from Fed Governor Christopher Waller, who warned that persistent inflation might necessitate keeping interest rates elevated for longer than anticipated. This hawkish stance has dampened risk appetite, further complicating Bitcoin's efforts to reclaim its recently lost resistance levels.

  3. Notable·

    Update: Recent market analysis suggests the panic-selling phase may be nearing exhaustion as sellers' profit margins disappear. According to reports, renewed inflows into spot Bitcoin ETFs are providing a critical floor for prices, helping the asset maintain resilience despite the ongoing escalation in geopolitical tensions.