Bitcoin Plunges $6,000, Down 10% in 1 Hour Amid Iran-Israel Tensions

Bitcoin experienced a significant drop, plunging $6,000 in minutes, following reports of Iran launching up to 100 drones towards Israel in retaliation for an earlier embassy bombing by Israel this month. The cryptocurrency's value fluctuated, with a noted decrease of over 10% in just 30 minutes and down 10% in the last 1 hour, reaching its lowest level since March 20th and marking a 20% decline from its recent all-time high. Amid these developments, Bitcoin briefly hit $60,600 before reaching $62,721.63, despite the initial plunge to below $63,000. Its price moved from $67,200 to $62,350 within an hour. This volatility highlights Bitcoin's role as a risk-off indicator, particularly during weekends when it is the only trading asset. The situation underscores the broader market's sensitivity to geopolitical tensions, with some investors viewing the dip as a buying opportunity, while others speculate on the impact of further escalations in the Middle East.