Bitcoin dropped 3.38% to $61,083 after Iran launched missile attacks on Israel, escalating Middle East tensions.
The cryptocurrency market saw $142 million in liquidations, with 95.77% occurring in long positions following the crisis.
Bitcoinâs RSI at 49.00 and bearish MACD signal indicate growing downward momentum amid geopolitical instability.
Bitcoinâs value sharply declined after reports emerged of Iran launching missile attacks against Israel. Bitcoin dropped to $61,083 before recovering slightly to $61,396, marking a 24-hour drop of 3.38%. The sudden sell-off mirrors escalating geopolitical tensions that could potentially lead to a broader regional conflict.
Iran launched a missile barrage on Israel, worsening the ongoing hostilities with Hezbollah and Hamas, which have been active for nearly a year. This new attack threatens to further destabilize the Middle East, raising concerns for a potential regional war.
The Iran blitzkrieg comes just five days ahead of the first anniversary of October 7, 2023, attacks when Hamas stormed into Israel, abducted civilians from a music festival, and carried out indiscriminate killings.Â
Beyond the immediate ecoâŠ
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