LONDON – Bitcoin experienced a sharp drop today, falling more than $4,500 in minutes, wiping out billions from the crypto market.
Traders saw over $209 million in leveraged positions liquidated within an hour. The broader cryptocurrency market lost around $72 billion in total value. Analysts attribute the crash to rising geopolitical tensions.
Before the drop, Bitcoin hovered near $67,730. It then dipped sharply to a low of $63,000 before a slight recovery to its current price of $63,652.
| Metric | Value | 24h Change |
|---|---|---|
| Current Price | $63,651.73 | 🔻 6.44% |
| Market Cap | $1.27T | 🔻 6.43% |
| Fully Diluted Valuation (FDV) | $1.33T | — |
The crash coincides with escalating military developments in the Middle East. Reports of missile strikes and conflicts between Israel and Iran, along with confirmed US involvement, have increased investor uncertainty.
Explosions were reported in multiple cities, fueling global risk-off sentiment. Investors moved away from volatile assets like Bitcoin toward safer investments.
Market analysts warn that further volatility in Bitcoin is likely if geopolitical tensions continue. Traders are bracing for additional swings in the crypto market, while traditional financial markets could also experience ripple effects.
Experts emphasize the importance of caution in these volatile times. Bitcoin’s rapid movements highlight the sensitivity of crypto markets to external events, especially geopolitical crises.
Despite the sudden drop, Bitcoin remains the largest cryptocurrency by market capitalization, holding a value above $1 trillion. However, the current situation underscores the risks investors face when global events trigger rapid market reactions.
In other news read more about Massive Explosions Heard in Tehran as Israel Launches Attack on Iran
As the Middle East situation evolves, crypto traders and investors will closely monitor developments. The coming days could see further sharp movements in Bitcoin and other digital currencies.
