Global Markets Turmoil Causes Bitcoin Price to Plummet

A recent surge in global tensions has caused instability in cryptocurrency markets, with Bitcoin's price taking a hit following joint U.S. and Israeli military strikes on Iran.

The attacks triggered a broad sell-off across global markets, causing the price of Bitcoin to drop below $66,000. The price initially fell to around $63,255 before recovering to reclaim the $67,000 level by Monday morning.

Crude oil surged up to 13% in response to the conflict, putting pressure on risk assets including Bitcoin. This surge in crude oil prices is seen as a key risk variable that could impact Bitcoin's price.