Bitcoin Slump on Iran Attack Flashes Warning for Global Markets
- Largest token on Saturday slid the most since March 2023
- Bullish speculative wagers via derivatives were liquidated
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Bitcoin struggled for traction after sinking the most in more than a year, part of a wider tumble in cryptocurrency markets as escalating geopolitical tension in the Middle East spurred risk aversion.
The largest cryptocurrency slid 7.7% on Saturday, the biggest such retreat since March 2023. The token pared some of the drop to change hands at about $63,230 as of 11:36 a.m. in Singapore on Sunday. Most other major coins such as Ether, Solana and meme-crowd favorite Dogecoin nursed 24-hour losses.