Crypto Market Drops Below $63,000 Amid US-Iran Tensions

The crypto market is experiencing a downturn due to escalating geopolitical tensions between the US and Iran. The conflict has triggered an increase in selling pressure, causing Bitcoin's price to drop below $63,000.

Data from CoinMarketCap shows that all top ten crypto coins by market cap are trading in the red apart from Tron (TRX) and Dogecoin (DOGE), which have gained 0.42% and 0.40%, respectively. The total crypto market cap has dropped by 1.03% to $2.16 trillion.

Despite the downturn, Pi Network (PI) and Pump Fun (PUMP) are bucking the trend with gains of over 6%. Pi Coin is creating a double bottom pattern on its daily chart and could reach the psychological resistance of $0.10 if this pattern plays out.