Why Bitcoin Falls to $62,000 in Tensions
In the past few hours, the cryptocurrency market has experienced a sell-off, with Bitcoin (BTC) price plummeting to $61,820, reflecting panic amid geopolitical tensions in the Middle East. According to a report from AXIOS, a warning from a senior White House official about the possibility of Iran launching a missile attack on Israel has raised concerns among investors.
The news has put strong pressure on Bitcoin prices, causing more than $66 million worth of futures contracts to be liquidated, mainly from long positions. Not only Bitcoin, US stock indexes were also affected, with the S&P 500 and Nasdaq falling 1.2% and 2%, respectively.
While gold prices climbed to $2,690 an ounce, nearing a record high, experts predict that if the situation in the Middle East does not improve soon, Bitcoin will continue to face negative pressure in the coming days.
