The price of Bitcoin dropped after Israel launched air strikes against Iran. The following is the specific situation:
Price change: On June 13th, the price of Bitcoin dropped from a high of $108,400 to $102,700 at one point. As of the time of this report by the reporter of Securities China, Bitcoin had fallen by 4.93% to $103,000.
Cause analysis: The conflict between Israel and Iran has brought uncertainty to the global market. Investors have been withdrawing from high-risk assets one after another, and cryptocurrencies led by Bitcoin have collectively plunged. Historically, Bitcoin has often experienced short-term price drops during geopolitical turmoil, as investors tend to shift to traditional safe-haven assets.
Meanwhile, the recent decline in Bitcoin prices is also related to the overall selling spree in the cryptocurrency market. Apart from Bitcoin, cryptocurrencies such as Ethereum, Ada, and Solana also experienced significant declines, and more than $1 billion worth of long positions in cryptocurrencies were liquidated in the past 24 hours, further intensifying the selling pressure in the market.
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