Bitcoin Update : Bitcoin slides below $60,000 on reports Israel strikes Iran

Bitcoin Update

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Bitcoin Update : Bitcoin slid more than 5.5% to $59,961 in the Asia session as the U.S. dollar rose broadly. Ether fell by a similar margin, dropping below the $3,000 barrier to $2,895.

Cryptocurrencies fell heavily and bitcoin broke below $60,000 on Friday in a rush out of risky assets following reports of an Israeli missile strike on Iran.

Bitcoin slid more than 5.5% to $59,961 in the Asia session as the U.S. dollar rose broadly. Ether fell by a similar margin, dropping below the $3,000 barrier to $2,895. Bitcoin Update

Israeli missiles hit a site in Iran, ABC News reported, citing a U.S. official, days after Iran launched a drone strike on Israel.

Iran’s Fars news agency said an explosion was heard at the airport in the Iranian city of Isfahan. Bitcoin Update

Oil, gold and bonds rallied sharply.

Bitcoin and other cryptocurrencies did take a hit following the news of the Israeli strike on Iran. Here’s a quick rundown: Bitcoin Update

  • Bitcoin price drop: Bitcoin fell below $60,000 for the first time in a while, dropping over 5.5% to around $59,961.
  • Market reaction: This price slide is part of a broader sell-off in risky assets as investors move towards safer options during times of geopolitical tension.
  • Reason for the sell-off: The Israeli strike on Iran has heightened concerns about a wider conflict in the Middle East, which is leading investors to seek stability in assets like gold and the US dollar. Bitcoin Update

It’s important to note that this is just a snapshot of the situation, and the cryptocurrency market can be quite volatile. Bitcoin Update

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