Bitcoin plunged immediately after news of Israel’s preventative strike on Iran spread, rattling global markets and triggering a swift retreat from crypto assets.
The leading digital asset fell nearly 4% from about $65,500 to $63,000 amid the sudden flare-up in the Middle East conflict. It was trading at around $63,600 at press time, down 6% in the last 24 hours.
Within minutes of the headlines breaking, roughly $100 million in long positions were liquidated across major exchanges, according to derivatives data.
Following the attack, the Israel Defence Forces warned of possible missile retaliation and imposed a nationwide halt on schools, workplaces, and gatherings, exempting essential sectors.
This is a developing story.