Why was Bitcoin down on Jul 17, 2026, 11:52 AM UTC?

Bitcoin is trading near $63,251 with minimal short-term movement (0.27% in 15min), but the 24h decline of -1.4% appears driven by a broader risk-off sentiment stemming from the chip sector selloff spreading into crypto markets, compounded by geopolitical uncertainty (U.S.-Iran tensions and Trump's China comments). The relatively low volatility despite negative headlines suggests the market is consolidating rather than panic-selling, though broader macro headwinds are keeping downward pressure.