Iran launches drone attack on Israel, Bitcoin price plummets to 60K

The Israeli military stated that after Iran launched a fierce drone attack, it also launched "dozens" of drones towards Israel. This incident has caused widespread concern and affected global financial markets, especially in the cryptocurrency sector.

Main Cryptocurrencies Experience Sharp Decline, Bitcoin Drops Below 60K

Earlier today, Bitcoin was still hovering around the high of $68,000. However, with news of a drone attack surfacing, the price of Bitcoin plummeted to around $60,000 by 5 a.m. on April 14. Ethereum also followed a similar trend, dropping to approximately $2,800. Other major cryptocurrencies such as BNB and Solana were not spared either, falling to $500 and $116 respectively. At the time of writing, Bitcoin was at 63K and ETH at 2900.

Traditional Markets Closed, Cryptocurrencies Lead the Way

These fluctuations are particularly noteworthy as traditional financial markets are closed on Saturdays, leaving uncertainty on how other asset classes will react. However, the crypto market has already seen a significant impact, as it is one of the few avenues that provide immediate financial responses to global events.

Today's market response highlights the sensitivity of cryptocurrency valuations to international events, despite the lack of direct connection between geopolitical conflicts and the fundamentals of cryptocurrencies. Investors and market observers are closely monitoring the developments, especially regarding potential changes in other financial areas once the traditional markets reopen.

Report: U.S. Expects Iran to Retaliate

Sources told CNN that the U.S. anticipates Iran to strike multiple targets within Israel in the coming days and is prepared to assist in intercepting any weapons launched toward its allies. The Biden administration remains highly vigilant amidst the potential unrest and unpredictability in the Middle East.