As the U.S. dollar strengthened significantly throughout the Asia session, bitcoin fell more than 5.5% to $59,961.
Following concerns of an Israeli missile attack on Iran, investors fled riskier assets, sending cryptocurrencies plunging sharply down. On Friday, bitcoin plunged below $60,000.
During the Asia session, Bitcoin fell over 5.5% to $59,961 as the US dollar strengthened significantly. Ether declined similarly, falling to $2,895 from below the $3,000 threshold.
Days after Iran launched a drone strike on Israel, ABC News claimed, citing a U.S. official, that Israeli missiles struck an Iranian location.
The Iranian news agency Fars reported that there was an explosion audible at the Isfahan airport.
Bonds, gold, and oil all saw strong gains.
Moh Siong Sim, a currency strategist at the Bank of Singapore, stated, “I think markets are currently in a flight to safety mode.” We continue to be in a scenario where we are aware that something has occurred. However, we must comprehend the extent of the retaliation.”
Although it was down 2% for the day, Bitcoin was back up at $62,300. Ether returned to levels above $3,000.
The reduction in the value of bitcoin occurs just a few hours before its ‘halving,’ which is a modification to its core technology intended to slow down the creation of new bitcoins, on Friday.
