Israel-Lebanon Tensions Spark Bitcoin Price Drop to $62,500

BTC price dropped below $63,000 on Thursday as tensions between Israel and Lebanon added to pressure in the crypto market. The Israel-Lebanon conflict comes amid fragile U.S.-Iran talks.

The sell-off intensified as leveraged positions were forced out of the market, causing a surge in crypto liquidations that topped $1 billion, according to CoinGlass.

Ethereum also weakened, dropping below $1,700 as traders cut exposure across major tokens. The latest Bitcoin price move clearly showed that pattern, with the selloff not isolated to BTC price, as Ethereum and other large altcoins also weakened.