**Bitcoin Plunges $4,000: Markets Panic Over Middle East Conflict**

Bitcoin (BTC) plunged nearly $4,000 in less than 24 hours after Iran’s missile strike on Israel on Oct. 1. From $64,000 on Tuesday, BTC plunged to $60,000 and has now recovered to $61,700 as of Wednesday morning in Asia. However, BTC is still down 3% in a day.

**Don’t Panic!**

- Bitcoin’s Fear and Greed Index has moved from ‘greedy’ to ‘fear’ with a score of 42 (neutral).

- This drop is nothing new; BTC often fluctuates during geopolitical tensions.

- Gold and oil are up, while BTC is down, prompting a humorous comment from Samson Mow: “Imagine trying to protect yourself from war by selling#Bitcointo buy paper gold.”

**Market Analysis**

- Analysts remain calm; BTC is still in a six-month price channel.

- Veteran trader Peter Brandt says the trend will remain strong if BTC closes above $71,000.

- IncomeSharks analyst predicts another decline before a rebound later in the month.

**Other Crypto Markets**

- The crypto market cap fell 4.7%, to around $150 billion.

- Ethereum (ETH) fell nearly 8% to $2,450 before recovering slightly.

- Altcoins such as Dogecoin (DOGE), Avalanche (AVAX), and Shiba Inu (SHIB) also saw major declines.

What do you think about this situation? Let's discuss in the comments column! 🚀