Bitcoin Plunges $6,000, Dips Below $64K to Near $60K Amid Iran-Israel Tensions

Bitcoin experienced a significant drop, plunging $6,000 in minutes, attributed to geopolitical tensions following reports of Iran launching up to 100 drones towards Israel. This event marks a critical moment for Bitcoin, as it hit the bottom of the range it has been trading in for weeks, with concerns that falling below $61.7k could lead to further declines. The cryptocurrency's volatility saw it dropping below critical thresholds of $64K, $62K, and getting close to $60k. The market's reaction indicates a shift towards risk aversion, with increased buying of Bitcoin at lower prices and outflows from alternative cryptocurrencies like Ethereum, which dropped below $3,000, and Solana falling below $120.