Bitcoin (BTC) 
$99,501 price fell to its daily low of $62,522 at the time this article was prepared. The decline is attributed to geopolitical tensions that have recently resurfaced. Missiles, a nightmare for cryptocurrency traders, could lead to significant market fluctuations. What are the details of the recent events?
Why is Bitcoin Falling?
A senior White House official recently stated, “We are receiving signs that Iran is preparing to launch a ballistic missile attack against Israel.” Though an IDF spokesperson mentioned that they have not seen such an attack yet, AXIOS confirmed preparations for an attack. While U.S. officials warned that any potential attack would have severe consequences for Iran, increased activity may be expected in the coming hours.
Risk markets typically underperform in such conflict environments for a variety of reasons. Cryptocurrencies have started to decline due to the escalating tensions. As BTC lost the $63,000 level, altcoins also opened the day with losses exceeding 2%.
If we observe panic selling in U.S. markets in the coming hours, it will likely have repercussions for cryptocurrencies as well. In summary, the rapid declines you may witness today will be associated with the ballistic missile attack.
