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<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin’s price dropped to $60,000 levels on October 1.</li> 
 <li>Yesterday, tensions in the Middle East surged as Iran launched a ballistic missile attack on Israel.</li> 
</ul> 
<p>Following the rising tensions in the Middle East on October 1, Bitcoin’s price dropped to $60,000 levels.</p> 
<p>After kicking off October at $64,000, BTC’s price tumbled, reaching $60,371 yesterday, ahead of a slight reversal upwards.</p> 
<p>At the moment of writing this article, BTC is trading above $61,600, down by more than 3% in the past 24 hours.</p> 
<figure id="attachment_51321" aria-describedby="caption-attachment-51321" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-75.jpeg"><img loading="lazy" decoding="async" class="wp-image-51321 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-75.jpeg" alt="BTC price in USD today" width="1200" height="800" title="Bitcoin Price Dropped to $60K, Amidst Rising Middle East Tensions 5" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-75.jpeg 1200w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-75-300x200.jpeg 300w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-75-1024x683.jpeg 1024w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-75-768x512.jpeg 768w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-75-750x500.jpeg 750w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-75-1140x760.jpeg 1140w" sizes="(max-width: 1200px) 100vw, 1200px"></a>
 <figcaption id="caption-attachment-51321" class="wp-caption-text">
  BTC price in USD today
 </figcaption>
</figure> 
<p>The US-based Bitcoin ETFs also recorded their first day of outflows, following an 8-day inflow streak.</p> 
<h2 id="btc-etfs-record-over-242-5-million-in-outflows">BTC ETFs Record Over $242.5 Million in Outflows</h2> 
<p>According to<a href="https://sosovalue.xyz/assets/etf/us-btc-spot" rel="nofollow noopener" target="_blank"> data</a> from SoSoValue, October 1 marked the first day in which Bitcoin ETFs in the US saw outflows, following <a href="https://crypto.ro/en/news/bitcoin-price-trades-near-64k-as-btc-etfs-record-8-day-inflow-streak/">eight consecutive</a> influx days, totaling $1.4 billion.</p> 
<figure id="attachment_51319" aria-describedby="caption-attachment-51319" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/oct1-2.png"><img loading="lazy" decoding="async" class="wp-image-51319 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/oct1-2.png" alt="SoSoValue data" width="596" height="527" title="Bitcoin Price Dropped to $60K, Amidst Rising Middle East Tensions 6" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/oct1-2.png 596w, https://crypto.ro/en/wp-content/uploads/2024/10/oct1-2-300x265.png 300w" sizes="(max-width: 596px) 100vw, 596px"></a>
 <figcaption id="caption-attachment-51319" class="wp-caption-text">
  SoSoValue data
 </figcaption>
</figure> 
<p>The outflows in the US-based crypto products totaled $242.53 million yesterday:</p> 
<ul> 
 <li>Grayscale’s Bitcoin ETF, GBTC, saw outflows of almost $6 million.</li> 
 <li>Fidelity’s Bitcoin ETF, FBTC, recorded outflows of $144.6 million.</li> 
 <li>Ark Invest and 21Shares’ Bitcoin ETF, recorded outflows of $84.3 million.</li> 
 <li>Bitwise’s Bitcoin ETF, BITB, recorded outflows of $32.7 million.</li> 
 <li>VanEck’s Bitcoin ETF, HODL, recorded outflows of $15.7 million.</li> 
</ul> 
<p>However, BlackRock’s Bitcoin ETF, IBIT, was the only crypto product that recorded inflows yesterday, at $40.8 million. The other Bitcoin ETFs in the US did not record any influxes or outflows the other day.</p> 
<figure id="attachment_51318" aria-describedby="caption-attachment-51318" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/1oct.png"><img loading="lazy" decoding="async" class="wp-image-51318 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/1oct.png" alt="SoSoValue data" width="1790" height="604" title="Bitcoin Price Dropped to $60K, Amidst Rising Middle East Tensions 7" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/1oct.png 1790w, https://crypto.ro/en/wp-content/uploads/2024/10/1oct-300x101.png 300w, https://crypto.ro/en/wp-content/uploads/2024/10/1oct-1024x346.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/10/1oct-768x259.png 768w, https://crypto.ro/en/wp-content/uploads/2024/10/1oct-1536x518.png 1536w, https://crypto.ro/en/wp-content/uploads/2024/10/1oct-750x253.png 750w, https://crypto.ro/en/wp-content/uploads/2024/10/1oct-1140x385.png 1140w" sizes="(max-width: 1790px) 100vw, 1790px"></a>
 <figcaption id="caption-attachment-51318" class="wp-caption-text">
  SoSoValue data
 </figcaption>
</figure> 
<p>The total net assets in Bitcoin ETFs as of October 1 were $57.36 billion, and the cumulative total net inflow in the crypto products was $18.62 billion.</p> 
<h2 id="bitcoin-and-crypto-liquidations">Bitcoin and Crypto Liquidations</h2> 
<p>Also, in the past 24 hours, Bitcoin saw over $140 million in liquidations, according to data from CoinGlass. $126.6 were long positions, and almost $16 million were short positions.</p> 
<p>According to the same data, the crypto market recorded almost $526 million in liquidations over the past 24 hours. Almost $453 million were long positions and $72.6 million were short positions.</p> 
<figure id="attachment_51320" aria-describedby="caption-attachment-51320" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/1oct-coinglass.png"><img loading="lazy" decoding="async" class="wp-image-51320 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/1oct-coinglass.png" alt="CoinGlass data" width="716" height="458" title="Bitcoin Price Dropped to $60K, Amidst Rising Middle East Tensions 8" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/1oct-coinglass.png 716w, https://crypto.ro/en/wp-content/uploads/2024/10/1oct-coinglass-300x192.png 300w" sizes="(max-width: 716px) 100vw, 716px"></a>
 <figcaption id="caption-attachment-51320" class="wp-caption-text">
  CoinGlass data
 </figcaption>
</figure> 
<p>As<a href="https://www.cnbc.com/2024/10/01/crypto-market-today.html" rel="nofollow noopener" target="_blank"> CNBC</a> noted, Bitcoin and the crypto market dropped yesterday, as rising tensions in the Middle East have dampened investors’ risk appetite.</p> 
<p>Cited by CNBC, Chris Kline, chief operating officer and co-founder of Bitcoin IRA, a trusted retirement platform, noted that the surging unrest across the Middle East has propelled oil prices upward and reinforced the dollar’s strength, while “casting a shadow” over Bitcoin and other speculative investments.</p> 
<h2 id="iran-launched-a-missile-attack-on-israel">Iran Launched a Missile Attack on Israel</h2> 
<p>Yesterday, Iran attacked Israel, as a response to its recent killing of the Hezbollah leader Hassan Nasrallah and the Iranian commander in Lebanon. Israel’s Iron Dome failed to stop Iran’s missiles that struck Tel Aviv.</p> 
<p>However, according to reports from the press agency <a href="https://www.reuters.com/world/middle-east/iran-says-it-has-finished-attack-israel-amid-fears-spreading-conflict-2024-10-02/" rel="nofollow noopener" target="_blank">Reuters</a>, Iran said today that its missile attack on Israel was finished, barring further provocation.</p> 
<p>On the other hand, according to the same reports, Israel and the US promised to retaliate against Tehran’s escalation.</p> 
<p>Washington said that it would work with Israel to make sure Iran faced “severe consequences” for yesterday’s attack.</p> 
<p>The United Nations Security Council scheduled a meeting regarding the rising tensions in the Middle East, and the European Union called for an immediate ceasefire.</p>

Bitcoin Price Dropped to $60K, Amidst Rising Middle East Tensions

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