Bitcoin Drops Below $63K Amid Coldcard Losses and Fading Iran Deal Hopes

Bitcoin slipped below $63,000 on Tuesday despite hopes that a deal between Iran and the International Atomic Energy Agency (IAEA) would boost market sentiment.

The unexpected decline comes after reports emerged of significant losses for Coldcard, a leading hardware wallet manufacturer, which has shaken investor confidence in the cryptocurrency ecosystem.

According to analysts, the drop is also attributed to increased selling pressure on major exchanges, particularly among larger investors who are taking profits from recent gains.