Bitcoin dropped to about $62,063, down 1.64%, following U.S. military strikes on Iran and President Trump's confirmation that the ceasefire had ended, triggering a broad move away from risk assets. Bitcoin maintained an estimated 0.85 correlation with the S&P 500, indicating macro events are dictating short-term price action. On the chart, buyers twice failed to push past $64,300–$64,500, a level now acting as resistance, while the first floor to watch is $61,100. The RSI fell to 43.29, well below its 55.13 average, and the Ultimate Oscillator is at 50.81. Spot Bitcoin ETFs recorded only $21.44 million of inflows on July 7, and more than $92 million worth of Bitcoin positions were liquidated after BTC dropped below $62,000. CoinMarketCap reported that more than half of Bitcoin’s circulating supply is now held at a loss, a condition K33 Research says has historically appeared near the later stages of bear markets before stronger recoveries.