Bitcoin has recently plunged below $62,000, hitting a low of $61,820. This drop coincides with rising geopolitical tensions in the Middle East, particularly news that Iran may be preparing a missile strike on Israel, causing panic in the markets.
In just one hour, over $66 million in cryptocurrency futures contracts were liquidated, primarily from long positions. At present, Bitcoin is trying to recover, trading around $62,734 but still down 1.5% in the last 24 hours.
The U.S. stock market also took a hit, with the S&P 500 and Nasdaq dropping by 1.2% and 2%, respectively. Meanwhile, gold surged to nearly $2,690 an ounce, close to its record high.
As we navigate these turbulent times, remember that the crypto market is inherently volatile, but this could also present opportunities for savvy investors. đŞđ°
What are your thoughts on this situation?
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