Bitcoin Records Price Drop of US$65,000 as Tensions Increase Between Israel and Iran

Bitcoin, the main cryptocurrency on the market, experienced a significant devaluation today, with its price plummeting below US$68,000. After reaching a peak above US$71,000 earlier in the day, BTC saw a drop of more than 6% in value, being quoted at US$65,050.

At the time of publication, the price of BTC was quoted at US$67,300 with a drop of 4.5% in the last 24 hours.

Similarly, the technology Nasdaq Composite fell 1.7%, while the S&P 500 fell 1.6%. The Dow Jones Industrial Average fell 1.3%, or more than 500 points.

This sharp decline in the value of markets and Bitcoin is attributed to growing tensions between Israel and Iran. Concerns are growing about possible retaliation from Iran following the deaths of Iranian affiliates in attacks attributed to Israel a few weeks ago. Rumors are circulating of a possible Iranian counterattack, either directly or through allied forces.

Recently, Israel reported a rocket attack originating from Lebanese territory. According to the latest reports, Israeli fighter jets were seen flying over Beirut. According to a CBS report, based on statements from two unnamed US officials, it is believed that a large-scale attack, involving more than a hundred drones and dozens of missiles, could be imminent, which would put Israel in a complicated defensive position.

In the financial market, heightened geopolitical tensions not only impacted Bitcoin, but also gold, which, despite reaching a new price record by surpassing US$2,400 per ounce during the day, also suffered losses, trading at US$ 2,392.

Furthermore, the drop in Bitcoin prices triggered a significant wave of liquidations in the cryptocurrency market, with around US$210 million liquidated in the last hour. Of this total, approximately US$200 million were from long positions. Notably, Ethereum also saw significant liquidations, reaching $29 million, while Bitcoin saw $20 million in liquidations.

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The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.