Bitcoin Price Drops Below $62K as Iran Rejects Talks

Bitcoin's price has dropped to $62,229 as Iran rejected talks with the US, putting support at risk. The move follows a significant liquidation of $146.66 million.

The market initially reacted positively after President Donald Trump announced he had canceled a planned military strike on Iran, but the rally quickly faded when Tehran denied any negotiations were taking place.

Crypto analysts believe Bitcoin is trapped between two major liquidity zones, with its next move likely to determine market direction. The 12-hour heatmap shows a large cluster of short liquidations around $64,000, while strong liquidity sits near $62,000, creating an important support zone.