Bitcoin dropped up to 3.2 percent to $66,604 on Tuesday before recovering some losses. The fall followed a similar dip in US equities. However, Bitcoin did not rise as stocks edged higher later. Noelle Acheson, author of the Crypto is Macro Now newsletter, said, "Sentiment is clearly bleak in crypto markets." She added, "There is strong progress in adoption by traditional institutions, but this is not reflected in overall prices, which depresses sentiment even more." Geopolitical tensions have added to the risk-off mood, causing investors to pull back from high-risk assets like Bitcoin.