Bitcoin (BTC) is extending its losses on Thursday for the third consecutive day amid renewed tensions between the US and Iran. Risk-off market sentiment intensifies, with Jupiter (JUP) and Pi Network (PI) emerging as the biggest losers over the last 24 hours. 

CoinMarketCap’s Crypto Fear and Greed Index is at 26 on Thursday, down from 29 on Monday, indicating a clear increase in risk-off sentiment.

Bitcoin vulnerable to steeper decline

Bitcoin shows a steady decline so far this week, reversing before testing the $65,000 threshold. A clear lower-high formation on the daily chart reaffirms the near-term bearish tone, while BTC remains well below the 50-day Exponential Moving Average (EMA) at…