Bitcoin Drops Below $60,000 Following Israel’s Missile Strike on Iran

[Pelican Press 0]

Bitcoin Drops Below $60,000 Following *******’s Missile Strike on Iran

‘s struggles continue as the halving is just hours away.

Bitcoin’s price has dropped below $60,000, hitting a low of around $59,600 on Binance. The drop follows news that ******* conducted missile strikes against Iran early Friday morning (UTC). ABC News first reported the *******, citing confirmation from a senior US official.

As reported, *******’s action is a response to Iran’s ******* last Saturday, using over 300 drones and missiles. Bitcoin tumbled following Iran’s *******. According to ******** military officials, nearly all of these were intercepted by ******* and its allies, including the US.

The market reacted quickly to the latest news, with Bitcoin’s value dipping below the $60,000 threshold. After the sudden drop, Bitcoin retraced above $61,500, down slightly in the last 24 hours, according to CoinGecko’s data.

Altcoins are also down, with currently trading near $3,000, a 2% decline in the last 24 hours. Major cryptos are experiencing similar drops, ranging from 1-3%.

Commenting on the escalating conflict between Iran and *******, Bitcoin analyst Tuur Demeester said geopolitical instability tends to boost demand for assets that are “liquid,” “scarce,” and have “low counterparty risk.” He thinks Bitcoin, commodities, and gold are assets that fit these criteria.

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#Bitcoin #Drops #Israels #Missile #Strike #Iran

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