Bitcoin fell below $70,000 on Tuesday, dropping to approximately $68,425 on the CME futures exchange as war-related anxiety and Federal Reserve uncertainty continued to drain risk appetite from crypto markets [1]. The decline marks a roughly 8 percent slide from the $74,500 level where Bitcoin traded when the Iran conflict began in late February.

The breach of $70,000 breaks a support level that had held for several days while Bitcoin hovered at that threshold. Analysts at MarketWatch attributed the move to a convergence of macro headwinds: the approaching expiration of the operational pause on Friday, rising oil prices squeezing consumer budgets, and the Federal Reserve's decision last week to hold rates steady while signaling no near-term cuts [1].

Spot Bitcoin ETFs saw net outflows of approximately $340 million on Monday, the largest single-day withdrawal since the conflict began. The selling was concentrated in Grayscale's GBTC and BlackRock's IBIT funds, suggesting institutional investors are reducing exposure rather than retail panic-selling [1].

Crypto analysts warn that the next significant support level sits near $64,000 — the 200-day moving average on the weekly chart. A sustained break below that level could open a path toward the sub-$60,000 range last seen in late 2025.

Ethereum fell in sympathy, trading at roughly $3,180, down 4.2 percent on the day.

-- HENDRIK VAN DER BERG, Johannesburg