Bitcoin’s price recently fluctuated significantly, dropping below $60,000 and then rebounding to around $65,000.
This volatility was influenced by geopolitical tensions between Iran and Israel, with market reactions closely tied to the unfolding events and their potential for escalation or resolution.
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Besides Bitcoin, the broader cryptocurrency market also displayed similar volatility, with altcoins like Ethereum, Solana, Toncoin, and ICP showing notable price movements. O
Overall, the crypto market cap increased, reflecting a mix of investor anxiety and opportunistic buying during this turbulent period.
Last week, Bitcoin’s price dramatically fell from over $70,000 to $65,000 following comments from the US Federal Reserve on interest rates.
The following day, amid escalating tensions as Iran engaged militarily with Israel, the price dropped further to $61,000. Although Bitcoin briefly recovered early this week, it struggled to maintain those gains amid overall bearish market sentiment, even dipping below $60,000 multiple times.
Recently, after news that Iran might not escalate attacks, Bitcoin’s price surged back to around $65,000. Currently, its market cap is close to $1.3 trillion, holding a 51.7% dominance in the crypto market.