{"id":809724,"date":"2024-12-02T05:12:38","date_gmt":"2024-12-02T11:12:38","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/02\/bitcoin-drops-below-62k-as-iran-launches-missile-attack-on-israel\/"},"modified":"2024-12-02T05:12:38","modified_gmt":"2024-12-02T11:12:38","slug":"bitcoin-drops-below-62k-as-iran-launches-missile-attack-on-israel","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/02\/bitcoin-drops-below-62k-as-iran-launches-missile-attack-on-israel\/","title":{"rendered":"Bitcoin drops below $62K as Iran launches missile attack on Israel"},"content":{"rendered":"<p>Bitcoins <\/p>\n<div data-id=\"149391\" data-url=\"https:\/\/cryptobriefing.com\/bitcoin-market-impact-analysis\/\">\n<section>\n<div>\n<p><a href=\"https:\/\/cryptobriefing.com\/markets\/\" rel=\"tag\"><br \/>\n                    Markets                <\/a>\n                    <\/p>\n<\/div>\n<p><span><span><a href=\"https:\/\/cryptobriefing.com\/\">Home<\/a><\/span> \u00bb <span><a href=\"https:\/\/cryptobriefing.com\/markets\/\">Markets<\/a><\/span> \u00bb <span aria-current=\"page\">Bitcoin drops below $62K as Iran launches missile attack on Israel<\/span><\/span>        <\/p>\n<div>\n<div>\n<p><span>by<\/span><\/p>\n<div>\n<p><a data-author_id=\"38186\" href=\"https:\/\/cryptobriefing.com\/team\/estefano-gomez\/\" rel=\"author\">Estefano Gomez<\/a><\/p>\n<\/div><\/div>\n<p><time datetime=\"2024-10-01T18:27:41+00:00\"><br \/>\n                        Oct. 1, 2024                    <\/time>\n                            <\/p>\n<\/p><\/div>\n<\/section>\n<section>\n<h2>Bitcoins Bitcoin&#8217;s sharp decline linked to Middle East missile crisis.<\/h2>\n<\/section>\n<section>\n            <picture><source media=\"(min-width: 850px)\" ><img decoding=\"async\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2024\/08\/07081129\/bitcoin-drop-400x210.png\" alt=\"bitcoins Bitcoin coin splashing into the ocean, symbolizing a sharp decline in its value or market performance.\" title=\"bitcoins bitcoin drop\">\n            <\/picture>\n        <\/section>\n<section>\n<section>\n<h3>Key Takeaways<\/h3>\n<ul>\n<li>Bitcoin fell below $62K due to escalating Middle East tensions.<\/li>\n<li>Market volatility continues as geopolitical and economic uncertainties persist.<\/li>\n<\/ul>\n<\/section>\n<section>\n<p>Share this article<\/p>\n<\/section>\n<p>        <?xml encoding=\"UTF-8\"><\/p>\n<p>Bitcoin\u2019s value plummeted below $62K on Tuesday afternoon following news that Iran had <a href=\"https:\/\/www.bbc.com\/news\/live\/cg4qx62kkxxt\" target=\"_blank\" rel=\"noopener nofollow noreferrer\"><u>launched <\/u><\/a>a missile attack on Israel. At the time of reporting, BTC was trading around $62,200, down 1.4% in the last 24 hours as the conflict intensified, creating uncertainty in the global markets.<\/p>\n<p>Traders who had been anticipating a bullish start to \u201cUptober\u201d saw their hopes dashed as both crypto and stock markets plunged at market open.<\/p>\n<p>Following Iran\u2019s large-scale missile attack on Israel today, Bitcoin experienced a sharp selloff, pushing the token down to just below $61K. Although the price has since recovered to around $62K, the ongoing conflict between Israel and Iran continues to fuel uncertainty.<\/p>\n<p>Analysts warn that Bitcoin may face further downward pressure and could retest the key support level of $60,000 if the situation escalates.<\/p>\n<p>The selloff in Bitcoin and other crypto assets was driven largely by <a href=\"https:\/\/cryptobriefing.com\/bitcoin-iran-conflict-drop\/\" target=\"_blank\" rel=\"\"><u>reports<\/u><\/a> of escalating violence in the Middle East. Iran<a href=\"https:\/\/www.airandspaceforces.com\/iran-attack-israel-us-air-force-middle-east\/\" target=\"_blank\" rel=\"noopener nofollow noreferrer\"><u> launched<\/u><\/a> a barrage of missiles targeting major Israeli cities, including Tel Aviv, following threats of retaliation for recent Israeli strikes on Hezbollah forces. The Israel Defense Forces<a href=\"https:\/\/twitter.com\/IDF\/status\/1841155252428390707\" target=\"_blank\" rel=\"noopener nofollow noreferrer\"><u> confirmed<\/u><\/a> that all Israeli civilians had been ordered into bomb shelters as the attacks unfolded.<\/p>\n<p>Adding to the tension, US President Joe Biden and Vice President Kamala Harris were<a href=\"https:\/\/x.com\/sentdefender\/status\/1841169276759167103\" target=\"_blank\" rel=\"noopener nofollow noreferrer\"><u> reported <\/u><\/a>to be in the White House Situation Room, ordering US Military forces across the Middle East to aid in the defense of Israel.<\/p>\n<p>Bitcoin\u2019s price quickly tumbled as investors fled from speculative assets. At press time, Bitcoin had recovered slightly but remained down roughly 2% over the past 24 hours. This volatility reflects the broader market uncertainty caused by the conflict, as investors seek safer assets like gold, which surged 1.2% to near-record highs.<\/p>\n<p>In addition to geopolitical concerns, traders were booking profits ahead of the upcoming FOMC. Data from <a href=\"https:\/\/www.coinglass.com\/spot-inflow-outflow\" target=\"_blank\" rel=\"noopener nofollow noreferrer\"><u>CoinGlass<\/u><\/a> shows significant outflows from major tokens like Bitcoin, Ethereum, and Solana, with more sellers than buyers in the market.<\/p>\n<p><html><body><\/p>\n<div class=\"ad-banner mrec-in-article\"><\/div>\n<p><\/body><\/html><\/p>\n<p>Over $481 million in liquidations were <a href=\"https:\/\/www.coinglass.com\/LiquidationData\" target=\"_blank\" rel=\"noopener nofollow noreferrer\"><u>recorded<\/u><\/a>, adding to the selling pressure. Ethereum saw over $92 million in liquidations, while Bitcoin positions worth $113 million were wiped out, marking the largest liquidation event since early September.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2024\/10\/01142148\/liquid.png\"><noscript><img decoding=\"async\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2024\/10\/01142148\/liquid.png\"><\/noscript><figcaption>Crypto liquidation heatmap chart (Coinglass)<\/figcaption><\/figure>\n<p>Bitcoin\u2019s recent selloff mirrors similar declines seen in April and July when tensions in the Middle East caused crypto assets to fall. With the conflict ongoing and market volatility persisting, the likelihood of Bitcoin testing lower support levels, such as $60,000, remains high.<\/p>\n<p>October is traditionally a strong month for Bitcoin, earning it the nickname \u201cUptober\u201d for its consistent positive returns. However, with geopolitical tensions and key macroeconomic events like the FOMC meeting looming, market volatility is likely to continue.<\/p>\n<section class=\"article-share\">\n<p>Share this article<\/p>\n<div class=\"social-icons\">\n          <button class=\"social-icon share\" data-href=\"https:\/\/x.com\/intent\/tweet?text=Bitcoin+drops+below+%2462K+as+Iran+launches+missile+attack+on+Israel&#038;url=https%3A%2F%2Fcryptobriefing.com%2Fbitcoin-market-impact-analysis%2F&#038;via=crypto_briefing\" aria-label=\"Share on x\"><br \/>\n        <?xml version=\"1.0\" encoding=\"UTF-8\"?><br \/>\n                <svg width=\"40px\" height=\"40px\" viewBox=\"0 0 40 40\" version=\"1.1\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\">\n                <g id=\"surface1\">\n                <path style=\" stroke:none;fill-rule:nonzero;fill:rgb(0%,0%,0%);fill-opacity:1;\" d=\"M 17.867188 0.148438 C 10.839844 0.878906 4.558594 5.507812 1.707031 12.054688 C -0.132812 16.28125 -0.441406 21.148438 0.867188 25.625 C 2.480469 31.214844 6.652344 35.933594 12.054688 38.292969 C 16.28125 40.132812 21.148438 40.4375 25.628906 39.132812 C 32.332031 37.199219 37.613281 31.695312 39.347656 24.851562 C 42.054688 14.132812 35.414062 3.171875 24.667969 0.613281 C 22.304688 0.0546875 20.226562 -0.09375 17.867188 0.148438 Z M 18.132812 12.535156 C 19.839844 14.800781 21.28125 16.667969 21.332031 16.667969 C 21.386719 16.667969 23.160156 14.800781 25.253906 12.535156 L 29.078125 8.398438 L 31.253906 8.398438 L 30.785156 8.894531 C 30.519531 9.171875 28.785156 11.054688 26.933594 13.066406 C 25.078125 15.078125 23.265625 17.039062 22.90625 17.398438 L 22.265625 18.078125 L 27.265625 24.734375 C 30.011719 28.398438 32.265625 31.441406 32.265625 31.492188 C 32.265625 31.558594 30.628906 31.601562 28.640625 31.601562 L 25 31.585938 L 21.613281 27.054688 C 19.28125 23.921875 18.1875 22.574219 18.078125 22.652344 C 18 22.71875 16.105469 24.761719 13.867188 27.1875 L 9.800781 31.601562 L 8.773438 31.601562 C 8.199219 31.601562 7.734375 31.574219 7.734375 31.535156 C 7.734375 31.492188 9.851562 29.171875 12.441406 26.386719 C 15.011719 23.601562 17.148438 21.265625 17.171875 21.226562 C 17.1875 21.171875 15.066406 18.28125 12.464844 14.800781 C 9.867188 11.332031 7.734375 8.464844 7.734375 8.441406 C 7.734375 8.414062 9.371094 8.398438 11.386719 8.398438 L 15.039062 8.398438 Z M 18.132812 12.535156 \" \/>\n                <path style=\" stroke:none;fill-rule:nonzero;fill:rgb(0%,0%,0%);fill-opacity:1;\" d=\"M 11.027344 10.1875 C 11.082031 10.28125 14.441406 14.785156 18.464844 20.171875 L 25.800781 29.988281 L 27.441406 30 C 28.453125 30 29.066406 29.945312 29.039062 29.867188 C 29.027344 29.800781 25.679688 25.292969 21.628906 19.867188 L 14.238281 10 L 12.585938 10 C 11.214844 10 10.933594 10.027344 11.027344 10.1875 Z M 11.027344 10.1875 \" \/>\n                <\/g>\n                <\/svg>      <\/p>\n<\/section>\n<\/div>\n<p> Estefano Gomez <a href=\"https:\/\/cryptobriefing.com\/bitcoin-market-impact-analysis\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Markets Home \u00bb Markets \u00bb Bitcoin drops below $62K as Iran launches missile attack on Israel by Estefano Gomez Oct. 1, 2024 Bitcoin&#8217;s sharp decline linked to Middle East missile crisis. Key Takeaways Bitcoin fell below $62K due to escalating Middle East tensions. Market volatility continues as geopolitical and economic uncertainties persist. Share this article<\/p>\n","protected":false},"author":1,"featured_media":809725,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4041,2163],"tags":[11476],"class_list":{"0":"post-809724","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"category-drops","9":"tag-bitcoins"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/809724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=809724"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/809724\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/809725"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=809724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=809724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=809724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}