Middle East Escalation Causes Bitcoin to Drop to $61,481
Bitcoin’s rally in July lost momentum towards the end of last week as the crypto fell below $62,000 amid renewed concerns over rising tensions in the Middle East. Investors reacted to reports suggesting that the already fragile understanding between the U.S. and Iran may have broken down, triggering a sharp sell-off across crypto. Trading data showed Bitcoin dropping from an intraday high above $64,100 to as low as $61,481 by late morning, a 3.5% decline over a 24-hour period. Before the downturn, Bitcoin had been on a steady climb, gaining nearly 10 percent since the beginning of the month. However,…





