-4.24% for Bitcoin as US seizes $1B Iranian crypto assets

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Bitcoin slides 4.24% to $69,999 today

Highlights

Escalating U.S.-Iran tensions, including direct military strikes and digital asset seizures, are intensifying risk-off sentiment in crypto markets.
Persistent macro uncertainty and regional instability drove U.S. spot Bitcoin ETF net outflows of $483.8 million on June 1, extending an eleven-day streak.
Bitcoin trades below key technical levels with bearish momentum; expected to move sideways in the $66,000–$74,500 range amid high volatility.

Risk asset outflows as Middle East tensions escalate and crypto sanctions persist

Geopolitical tensions between the United States and Iran have escalated as military strikes occurred over the weekend, with the U.S. conducting attacks on Iranian radar and drone facilities. The Strait of Hormuz, a vital global energy corridor, remains at risk of disruption, intensifying energy market volatility and placing risk assets such as Bitcoin under strain. On June 1, U.S. spot Bitcoin ETFs recorded $483.8 million in net outflows, marking the eleventh consecutive day of withdrawals amid ongoing macroeconomic uncertainty and the deepening crisis in the Middle East. U.S. Treasury Secretary Scott Bessent confirmed at the Reagan National Economic Forum that the U.S. has seized approximately $1 billion in Iranian crypto assets, following multiple wallet sanctions and digital asset freezes related to Iranian entities.

Bearish momentum persists as technical indicators point to oversold conditions

BTC has decisively broken below the $76,356 (SMA-20), $77,268 (SMA-50), and $79,416 (SMA-200) technical levels, keeping price action beneath short, intermediate, and long-term moving averages. The Ichimoku Kijun level at $76,598 currently serves as immediate resistance. Momentum signals are notably bearish, with MACD indicating a "Sell" on both daily and weekly timeframes, while the ADX D1 value of 19.37 reflects weak trend strength. RSI at 30.19 and CCI at -166.73 place the asset near or in oversold territory, and this view is reinforced by Stoch RSI and BBP, which confirm persistent seller dominance. The Awesome Oscillator remains on a "Sell" signal, supporting the ongoing downward movement.

Downside risk heightened by weak demand at support levels

Over the coming five trading days, BTC is expected to fluctuate within a range of $66,000 to $74,500, in line with 5–7% typical volatility. There is a very low probability (less than 20%) of a significant upward move from current levels, with further declines more likely if buying interest fails to materialize at oversold conditions. The base case scenario is for sideways trading between the highlighted support and resistance levels, while a break below $66,000 could accelerate downside momentum. A sustained move above $74,500 would be needed to establish a more constructive short-term outlook.

Anton Kharitonov, analyst at Traders Union, sees Bitcoin under persistent downside pressure after sharp ETF outflows and escalating geopolitical risks. He notes that price action remains weak, with BTC below all key moving averages and sentiment dominated by sellers. Institutional demand is retreating, and macro uncertainty clouds the outlook for any recovery. "Base case is range-bound trade between $66,000 and $74,500, with further declines likely unless buyers step in at oversold conditions," Kharitonov says.

Earlier, analysts noted that Bitcoin was experiencing ongoing downside pressure and consolidating amid persistent bearish momentum. The current escalation of Middle East tensions and record ETF outflows adds a significant macroeconomic risk to the existing technical weakness, making a breakdown below the $66,000 support a critical catalyst for further volatility in the coming days.

Source of Data: BTC Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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