Bitcoin price drops 7% on reports Iran launched attacks at Israel By –

Tensions between Iran and Israel escalated on Saturday night after reports emerged that Iran had launched an attack against Israel.

The Israeli Defense Forces (IDF) said the attack involved a drone launched from Iranian territory toward Israel. Confirmation of the attack has raised concerns about the possibility of regional war.

“We are monitoring airspace threats that could take several hours to reach the territory of the State of Israel,” the IDF said.

Prices fell more than 7% on the news. Price action was testing a three-week low below $62,000. At the time of writing, Bitcoin prices had fallen 6.4% on the day.

The latest hostilities come in the wake of heightened tensions between Iran and Israel, particularly since the start of the war in Gaza in October.

Accusations and counter-accusations have escalated, with Iran blaming Israel for the April 1 attack on its consulate in Damascus.

Investors will be monitoring developments in the region very closely given the potential for further escalation and instability in the region.