Bitcoin Dips Below $60,000 as Geopolitical Tensions Spark Rush to Safe-Haven Assets

Bitcoin dips: A wave of selling hit cryptocurrencies, particularly Bitcoin, which plummeted below $60,000 mark on Friday,  amidst a broer flight from risky assets triggered by reports of an Israeli missile strike on Iran.

Bitcoin experienced a significant decline of more than 5.5 per cent, dropping to $59,961 during Asia session, coinciding with a bro-based rally of U.S. dollar. Er, anor major cryptocurrency, mirrored this trend, falling by a similar margin to dip below $3,000 threshold to $2,895.

turmoil unfolded following reports from ABC News, citing a U.S. official, of Israeli missiles striking a site in Iran. This event occurred in aftermath of a recent drone strike launched by Iran on Israel, escalating tensions in region.

ding to uncertainty, Iran's Fars news agency reported an explosion at airport in Iranian city of Isfahan, furr heightening geopolitical anxieties.

In response to escalating tensions, tritional safe-haven assets such as oil, gold, and bonds experienced sharp rallies. Investors sought refuge in se assets amid concerns over heightened geopolitical risks and potential disruptions to global stability.

With Reuters Inputs