PiCK
[Market] Bitcoin breaks below $68,000…selling pressure intensifies on Middle East risk
Summary
- Bitcoin (BTC) reportedly fell 3.63% day on day, breaking below the $68,000 level.
- Major altcoins, including Ethereum (ETH) and XRP, were said to be posting a broad-based decline.
- The widening downward pressure was attributed to heightened geopolitical tensions in the Middle East and the resulting hit to investor sentiment.
Forecast Trend Report by Period
Bitcoin (BTC) has fallen below the $68,000 level.
As of 6:30 a.m. on the 23rd (KST), Bitcoin was trading at $67,795.90, down 3.63% from the previous day, according to CoinMarketCap. On Upbit’s KRW market, it is trading at 102.27 million won, down 1.44% from the prior day.
Major altcoins, including Ethereum (ETH), are all moving lower across the board. Ethereum is trading at $2,042.73, down 5.14% from the previous day on CoinMarketCap, while XRP is trading at $1.37, down 4.36% day on day.
The sell-off is being attributed to rising geopolitical tensions in the Middle East. Investor sentiment is seen to have weakened after U.S. President Donald Trump called on Iran to open the Strait of Hormuz and signaled the possibility of a military response.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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