Bitcoin Price Plunges Amid Macro Uncertainty and Geopolitical Risk

Bitcoin's price dropped to $63,754 in early trading on August 11 before recovering to $64,072.81, a 1.38 percent decline over the past 24 hours and a 0.47 percent gain for the week.

The cryptocurrency market is experiencing renewed pressure due to macro uncertainty and leveraged positioning, leading to increased volatility.

Riya Sehgal, Research Analyst at Delta Exchange, noted that Bitcoin was rejected from the $65,000-$65,500 region, slipping back towards $64,000. Long liquidations amplified the move, although institutional demand through spot ETFs remains relatively supportive.