Bitcoin Crashed Below $100,000 Amid US Airstrikes On Iran And Market Sell-Off 📉
The leading cryptocurrency, Bitcoin, dropped below $100,000 for the first time in over a month, primarily due to escalating US-Iran tensions and a market-wide sell-off.
Following US airstrikes on Iran and retaliations, Bitcoin's value fell around 4% to $99,300, while Ethereum faced a sharper decline of approximately 10%. Crypto markets saw a 7% reduction overall within 24 hours.
Geopolitical issues, including Iran's threats to block the Strait of Hormuz, compounded global financial uncertainty, with JPMorgan predicting significant oil price hikes.
Data reveals Bitcoin's behavior aligns with tech stocks, reflected in increased correlation with the Nasdaq and forced liquidations exceeding $1 billion.
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