Bitcoin Drops to $60,000 Following Iran’s Missile Strike on Israel
Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.
Bitcoin dropped to around $60,000 Wednesday following Iran’s missile strikes on Israel. The strikes were in retaliation for Israel’s killing of militant leaders and its aggression in Lebanon against Hezbollah.
Concerns about a broader regional war involving Iran and the US have grown as Israel escalates its assault on Lebanon.
Bitcoin fell by 3.1% to around $61,616 on the day, and has dropped 4.4% over the past week. This decline is mainly due to growing uncertainty and increased risk aversion in financial markets, driven by geopolitical tensions.
As a result, investors tend to sell off riskier assets like cryptocurrencies, directly impacting Bitcoin’s price.
Bitcoin Reaches $60,000 Amidst Iranian Missile Strike on Israel
Bitcoin's value plummeted to $60,000 on Tuesday afternoon following Iran's missile attack on Israel, later recovering slightly to $61,500.
This represents a 7.5% decline from its recent $66,500 peak, causing…
Reports highlighted the severity of the situation as President Joe Biden and Vice President Kamala Harris gathered in the White House Situation Room. They reportedly deployed US military assets to reinforce Israel’s defense.
Reports indicate Iranian missiles were mostly intercepted with help from US naval destroyers. Still, “a few hits” occurred, according to Israeli military spokesman Daniel Hagari.
Mitchell Nixon, chief research officer at Imperial Wealth, pointed out that the current Bitcoin decline mirrors past drops in April and July. Both were triggered by rising tensions in the Middle East, prompting a sell-off in crypto assets.
On Sept. 30, 2024, Bitcoin spot ETFs saw
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