PiCK

[Market] Bitcoin slips below $67,000 on fears of Middle East war escalation

Uk Jin

Summary

Bitcoin (BTC) was reported to be trading at $66,462, down 4.3% from the previous day.
Ethereum (ETH), the leading altcoin, was also said to have extended its losses, falling back below $2,000.
It was reported that risk sentiment deteriorated sharply amid fears of an escalating war in the Middle East and warnings of a closure of the Strait of Hormuz.

Forecast Trend Report by Period

Bitcoin (BTC) is plunging sharply intraday.

As of 7:50 p.m. on the 27th (Korea time), Bitcoin was trading at $66,462, down 4.3% from the previous day.

At the same time, Ethereum (ETH), the leading altcoin, also extended its losses and fell back below $2,000.

The selloff is seen as driven by a rapid deterioration in risk appetite amid signs the war in the Middle East could intensify. Earlier, Iran’s Islamic Revolutionary Guard Corps (IRGC) said in a statement that it would "close the Strait of Hormuz" and warned that "any passage through the strait will face a forceful response."

Israel also moved to respond. Israeli Defense Minister Israel Katz declared that it would "expand attacks against Iran."

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