Bitcoin Plunges Below $64,000 Amid Middle East Tensions

Bitcoin and other major cryptocurrencies tumbled sharply on Saturday following reports of escalating tensions in the Middle East.

Bitcoin's price slumped by 3.8%, dipping below $63,038. Ethereum, the world's second-largest cryptocurrency, experienced an even steeper decline, falling by 4.5% to $1,835.

According to Bloomberg, citing data from cryptocurrency platform CoinGecko, the overall cryptocurrency market capitalization shed approximately $128 billion as a direct consequence of the heightened geopolitical uncertainty.

The morning's losses extend a period of decline for Bitcoin, triggered by a series of sell-offs in cryptocurrency markets. These sell-offs began after Bitcoin reached a record high in October 2025, peaking at $126,000.