Bitcoin has tumbled closer to the psychologically important $100,000 price level, dashing traders’ hopes of a new all-time high after Israel launched a series of airstrikes on Iran.
Explosions reportedly rocked Iran’s capital of Tehran at 22:50 UTC on Thursday before Israel claimed responsibility for the attacks, which saw Bitcoin (BTC) drop 2.8% from $106,042 to $103,053 within 90 minutes before slightly recovering to $104,370 at the time of publication, according to CoinMarketCap.
Bitcoin downtrend caught optimistic traders off guard
The drop caught traders offside, with approximately $427.84 million in long positions liquidated over the past 24 hours, according to CoinGlass data. Just days earlier, on Tuesday, Bitcoin had climbed as high as $110,265, just below its May 22 all-time high of $111,940.
Although gold and oil prices have risen 1.44% and 11%…
