Analysts: If geopolitical conflicts further escalate, Bitcoin may fall to the $60,000 support level

March 30th News, according to The Block, due to the ongoing US-Iran conflict, the price of Bitcoin has fallen from around $71,000 last week to near $67,000, and briefly dropped to $65,000 on Saturday. Rachael Lucas, a crypto analyst at BTC Markets, stated that Bitcoin briefly touched $72,000 this week on hopes of a diplomatic breakthrough in the Middle East, but as those hopes faded and oil supply concerns resurfaced, the price retraced its gains. She pointed out that the situation in the Strait of Hormuz exacerbates inflation concerns, making it difficult for the Federal Reserve to lower interest rates, which puts pressure on crypto prices. Jeff Mei, COO of BTSE, said that oil and gas prices will remain high in the short term and drag down economic growth, so crypto prices still have room to fall, and Bitcoin may drop to the $60,000 support level. Andri Fauzan Adziima, Head of Research at Bitrue, believes that the market will remain volatile and news-driven. If the US-Iran conflict escalates, Bitcoin may test $60,000; if the situation eases and oil prices fall, it is expected to rebound above $70,000. BTC Markets analyst Lucas also pointed out that current retail investor sentiment is fearful, with many in a wait-and-see or hedging state, while institutional investors are showing the opposite trend. US spot Bitcoin ETFs saw inflows of over $1.13 billion this month, ending four consecutive months of net outflows; Strategy continues to increase its holdings, and Morgan Stanley is about to launch a low-fee Bitcoin ETF. She stated that when retail panic and institutional accumulation show a clear divergence, historical experience suggests that institutional judgment is often more accurate.