Quick overview

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Bitcoin sank on Sunday amid the ongoing conflict in the Middle East. The pioneer asset reached monthly lows as the US-Iran conflict escalated, trading below $ 100 K. Bitcoin prices plummeted over the past day, dropping to $99,500, according to CoinMarketCap data.

The flagship cryptocurrency’s price currently stands at $99,666, falling below the psychological $100K level for the first time in over a month. Due to ongoing bearish trends in Bitcoin’s price, investors are closely monitoring the charts.

Bitcoin surged to a new all-time high of $111,970; it last traded below the $ 100K mark in May.

Bitcoin has dropped by nearly 7%  for the week amid high geopolitical pressures from the Israel-Iran conflict.

Bitcoin’s initial three-month comeback reached above $100,000 on May 8. This follows Bitcoin’s brief recovery to $110,000 on June 11, which raised new hopes for all-time highs. However, escalating geopolitical tensions from Israel’s airstrikes on Iran last Thursday caused Bitcoin to drop to $103,000.

 Tensions have only increased as US President Donald Trump has called for Iran’s “unconditional surrender” and threatened Ayatollah Ali Khamenei, Iran’s supreme leader.