Bitcoin dips under $63K on Friday. US stocks extended their losses.
The US launched new strikes on Iran. This is the sixth consecutive night of strikes.
Why Bitcoin dips under $63K
CENTCOM confirmed the major strikes. US forces hit many Iranian military targets. These included coastal surveillance and air defense sites.
Military logistics infrastructure also suffered damage. Maritime capabilities also took a hit. Reports claimed the US struck Iranian infrastructure.
The Bandar Khamir overpass bridge suffered damage. This bridge connects Bandar Abbas to Lar. The Gariveh Bridge also sustained damage.
A third bridge in Hormozgan Province also suffered. A major railway station west of Bandar Abbas sustained damage as well.
Iran launched strikes on Qatar in retaliation. Initial reports show impacts on US Al Udeid Air Base. Iranian attacks are ongoing across Gulf countries.
These include Bahrain, Jordan, Kuwait, and Iraq.
White House spokesperson Karoline Leavitt spoke earlier. “Iran very much continues to talk to the United States,” she said.
“They express that they want to make a deal with us,” Leavitt added. “They are suffering devastating blows from our United States military.”
These developments spiked the US dollar index. It reached 100.79 on July 17. Oil prices also rose to $80 per barrel.
Consequently, Bitcoin slipped to $63K lows. US stock futures fell further.
However, BlackRock CEO Larry Fink recently commented. He claimed Bitcoin price is stable around these levels. He is bullish on crypto for the next 12 months.
Trump speech reveals China’s interference
President Donald Trump delivered a primetime address. He focused on election security before the November midterms.
Trump accused China of interfering in 2020 US elections. This caused Bitcoin and risk assets to slip. Rising uncertainty drove the market reaction.
Trump highlighted declassified intelligence on Chinese meddling. He claimed “the largest compromise of election data in history.”
China allegedly stole 220 million US voter files. These included names, addresses, and sensitive data.
Trump attacked Democrats, the media, and government agencies. He targeted the FBI and DOJ specifically.
He called for stronger voter ID measures. This includes passage of the SAVE America Act. The act requires proof of citizenship.
Trump’s speech revived 2020 election integrity debates.
Democrats slammed Trump for conspiracy theories. Chuck Schumer, Jim McGovern, Elizabeth Warren, and Bernie Sanders criticized him.
They said he ignored inflation, housing, and healthcare. The climate crisis also failed to get attention.
