The price of Bitcoin, the world’s largest cryptocurrency, saw a sudden decline today and the price fell below $68,000.
The BTC price, which was above $71,000 during the day, lost more than 5% of its value at its low with this drop and is trading at $68,044 at the time of writing. .
The main reason for the drop in Bitcoin price is the tension between Israel and Iran. We know that Iran wants to retaliate against certain groups affiliated with Iran who were killed by Israel a few weeks ago. Recently, there have been rumors that Iran wants to attack Israel, either directly or using its affiliated forces.
However, in the statement made by Israel, it was claimed that a rocket attack was launched against them from Lebanese territory. According to the latest developments, Israeli military planes are flying over Beirut.
According to reports from US media CBS, based on two unnamed US officials, officials said the attack could include more than 100 unmanned aerial vehicles and dozens of missiles against military targets inside the country, and said warned that Israel would have difficulty pushing back. an attack of this magnitude. .
As geopolitical tensions have reached an all-time high in recent days, both gold and Bitcoin have lost significant value today. Although an ounce of gold surpassed $2,400 during the day and broke the highest price record ever, it has lost some blood with recent developments but is still trading at 2,392 dollars.
With the drop in the price of Bitcoin, the liquidation of millions of dollars was also triggered. According to the data, a huge liquidation of $210 million took place in the cryptocurrency market in the last hour. About $200 million of those liquidations involved long positions. However, the majority of liquidations, $29 million, were seen on Ethereum and $20 million on Bitcoin.
Chart showing liquidations that occurred in the last hour.
*This does not constitute investment advice.
