Bitcoin Dips Below $60K as Israel Launches Strike on Iran

(BTC) fell 5%, dipping below $60,000 before quickly recovering to about that level, as Israel hit back against Iran for a missile strike last week.

March Zheng, a managing partner at Bizantine Capital, said that the next threshold for bitcoin is $55,000, should market turmoil continue.

“If there is a panic sell for bitcoin due to war-related news, it would still be a good buying opportunity,” added Jun-Young Heo, a derivatives trader at Presto, in a Telegram message.

Major stock indices in Asia are also down, with Hong Kong’s Hang Seng index down 3.5%, Japan’s Nikkei 225 down 6.5%, and Taiwan’s TAIEX down 5%.

Iran’s Imam Khomeini International Airport canceled flights and Iran grounded commercial flights around the capital city of Tehran, AP reported.

UPDATE (April 19, 2024, 03:10 UTC/11:09 a.m. HKST): Adds additional information.