Obgist | Nigeria News, Celebrity Scoop, International Gist and Tech News

The Bitcoin price has plunged below $64,000 as investors dump risky assets following military strikes on Iran.

The global cryptocurrency market took a massive hit this weekend as news of military strikes on Iran sent investors scrambling for safety. 

Bitcoin, the world’s leading digital asset, saw its value slide below the $64,000 mark, dragging the rest of the market down with it.

According to market data, Bitcoin dropped by nearly 4% to hit $63,038, while Ether wasn't spared either, falling 4.5% to $1,835. In just a few hours of trading, a staggering $128 billion was wiped off the total value of all digital assets globally.

The sell-off was triggered by reports of heavy explosions in Tehran on Saturday. As the United States and Israel launched a series of "pre-emptive" strikes, the fear of a full-blown regional war forced traders to move their money out of "risky" investments like crypto.

Market experts noted that because crypto markets never sleep, Bitcoin often acts as a "pressure valve" for global anxiety when traditional stock markets are closed on weekends. 

Justin d’Anethan, a lead researcher at Arctic Digital, explained that while the drop was sharp, it could have been worse if the market hadn't already cleared out some of its earlier "excessive" bets.

This latest crash comes at a bad time for Bitcoin. The asset has been struggling to regain its footing since it peaked above $126,000 in October. 

Adding to the tension, new uncertainties surrounding U.S. tariff policies have also started to weigh heavily on investor confidence.

On the political front, President Donald Trump released a video message urging Iranian citizens to take charge of their future as the military campaign continues. 

However, the situation remains unpredictable, especially after Iran retaliated by targeting U.S. military bases in the Middle East, including a direct hit on a naval facility in Bahrain.

For now, the crypto market remains on edge, with prices hitting their lowest levels since early February.