Bitcoin Price Plunges to the Lowest Level of the Day: What’s Driving the Decline?

The cryptocurrency market has entered another sudden wave of decline, which we have experienced repeatedly in recent days. Bitcoin price dropped to $62,274, the lowest level of the day.

It is believed that the reason for the decline is new developments in the tension between Iran and Israel. Following the attack carried out by Iran last Saturday, Israel is now expected to retaliate against Iran.

As a latest development, Israeli media organizations claimed that one of the results of the meeting after the meeting of the Israeli War Cabinet was that the Israeli air force had completed its preparations for an attack on Iran. After this news spread, the cryptocurrency market in general, along with Bitcoin, suffered a decline.

Chart showing the recent decline in BTC price.

BTC price has lost approximately 4% in the last 24 hours. On the Ethereum side, losses remained at 3%. Although the DOGE price increased slightly thanks to Elon Musk’s tweet, it managed to keep its losses at 1.5%.

However, at the same time, the spot gold price rose to the highest price level of the day in dollar terms.

*This is not investment advice.

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