đš Bitcoin Drops to $60,000 Amid Middle East Tensions â Market Volatility Is Alarming! đš
In a dramatic move, Bitcoin has dropped to $60,000, wiping out most of its gains after the Fed cut interest rates. The largest cryptocurrency by market capitalization has fallen 3% in the past 24 hours, as escalating tensions in the Middle East sent shockwaves through markets.
Headlines of an imminent Iranian missile strike on Israel prompted a flight from riskier assets, sending investors into safer havens. This marked a sharp decline from Bitcoinâs previous high of $64,000 during European trading hours. đ
â ïž Warning: The situation worsened when the Israel Defense Forces confirmed missile attacks, causing a further drop to $61,000 and Bitcoin eventually fell just above the key $60,000 mark. The drop wiped out almost all of the gains after the US Federal Reserve cut interest rates by 50 basis points in mid-September, reflecting Bitcoinâs vulnerability to global crises.
Major altcoins, including SOL, AVAX, DOT, and NEAR, were hit even harder, falling 5%-10%, while ETH fell 3.8% to just over $2,500. This widespread decline highlights the severe impact of geopolitical events on the crypto market as a whole.$BTC
