Bitcoin tumbles below $60,500 amid rising Middle East conflict
Cryptocurrency markets fell sharply on Thursday as geopolitical tensions intensified after Iran launched missile strikes on Israel. Bitcoin dropped below $60,500, while major altcoins such as Ethereum, Solana, XRP, and Dogecoin saw declines ranging from 5-15%.
As of 2:49 pm IST, Bitcoin slipped 1.8% to $60,492, while Ethereum plunged 5.4% to $2,339. The global cryptocurrency market cap fell by 3.7% to approximately $2.09 trillion in the past 24 hours.
«Bitcoin dropped to around $60,000 as tensions escalated following Iranian missile strikes on Israel in retaliation for Israeli military actions against militant leaders and Hezbollah,» said Sathvik Vishwanath, Co-Founder & CEO of Unocoin.
«While Bitcoin witnessed significant inflows at the end of September, the trend reversed with a notable outflow of $242.5 million on October 1st. Despite the current geopolitical unrest, Bitcoin still posted its strongest September close in over a decade,» Vishwanath added.
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View Details»Among altcoins, BNB (-2.4%), Solana (-7.1%), XRP (-14%), Dogecoin (-5.3%), Cardano
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