Greed

Bitcoin

April

The price of Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) briefly dropped below its critical $60,000 support level again on Friday, falling 5.44% in just two hours amid escalating geopolitical tension in the Middle East.
On April 19, Bitcoin’s price briefly slumped down to $59,698 before quickly recovering to $61,352. It’s a crucial breakdown to note, given that if its price falls down to $59,000, then approximately $243 million in long positions will be liquidated, per CoinGlass <a href="https://www.coinglass.com/currencies/BTC" target="_blank" rel="noopener nofollow">data</a>.&nbsp;
Over the last four hours, $34.03 million in Bitcoin long positions have been liquidated, data shows.&nbsp;
This comes amid Iranian state media reporting that explosions had been heard at Isfahan airport in central Iran, according to an April 19 ABC News <a href="https://www.abc.net.au/news/2024-04-19/missiles-reportedly-hit-iran-site/103677406" target="_blank" rel="noopener nofollow">report</a>.
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 <img src="https://s3.cointelegraph.com/uploads/2024-04/00500974-ae5b-4fd8-91ff-c35389d56c0c.png" alt="" title="">
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 Explosions were reportedly heard at Isfahan International Airport. Source: ABC News
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A similar situation occurred on April 13, when Bitcoin’s&nbsp;<a href="https://cointelegraph.com/news/bitcoin-nose-dive-as-political-tensions-escalate-israel-iran-middle-east">price experienced similar volatility</a>&nbsp;after Iran launched an attack on Israel, plummeting 8.4%. 
At the time, the price decline wiped out over $130 million in market capitalization within minutes following news of the attack.
Related:&nbsp;<a href="https://cointelegraph.com/news/crypto-underestimates-long-term-bitcoin-halving-impact-bitwise">Crypto market ‘underestimates the long-term impact’ of Bitcoin halving: Bitwise</a>
Bitcoin holders may also be bracing for heightened volatility as the&nbsp;<a href="https://cointelegraph.com/news/bitcoin-halving-2024">Bitcoin halving</a>&nbsp;event, which slashes miners’ rewards in half every four years, approaches on April 20.
The Crypto Fear &amp; Greed <a href="https://alternative.me/crypto/fear-and-greed-index/" target="_blank" rel="noopener nofollow">Index</a>,&nbsp;a major tool tracking the market sentiment in cryptocurrency markets, is down 13 points since last week’s greed index of 79.
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 Bitcoin’s price broke its crucial $60,000 support level amid tensions in the Middle East. Source: CoinMarketCap
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Bitcoin’s price has been threading above the $60,000 mark over the past seven days but briefly fell from an opening of $63,814 on April 17, dropping as much as 7.5% to an intra-day low of $59,648, per <a href="https://cointelegraph.com/news/bitcoin-drops-below-60k-as-analyst-says-zero-spot-bitcoin-etf-inflows-very-normal">data from Cointelegraph Markets Pro</a>.
Open Interest (OI) in Bitcoin has also experienced a slump over the past seven days, dropping approximately 17.6% to $28.06 billion.
Meanwhile, the second-largest cryptocurrency by market capitalization, Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>), also experienced a sharp decline, falling 5% below its critical $3,000 price level, briefly dipping to $2,876, before retesting its support level.
The overall crypto market cap is $2.26 trillion, down 0.53% over the past 24 hours.
Magazine:&nbsp;<a href="https://cointelegraph.com/magazine/get-bitcoin-or-die-tryin-why-hip-hop-stars-love-crypto/">Get Bitcoin or die tryin’: Why hip hop stars love crypto</a>

Bitcoin briefly dips under $60K amid reports of worsening Middle East crisis

Cointelegraph

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