Bitcoin Plunges Below $62K As Iran Launches Missile Attack On Israel

Murtuza Merchant

October 01, 2024

Bitcoin (CRYPTO: BTC) fell sharply to a low of $61,100, down about 4% in the last 24 hours, as news broke of escalating tensions in the Middle East.

What Happened: The Israel Defense Forces (IDF) reported that more than 100 missiles have been fired into Israel from Iran, setting off sirens in key cities, including Tel Aviv and Jerusalem, according to Sky News.

This development has sent shockwaves through global markets, with cryptocurrencies taking a notable hit amid the rising geopolitical uncertainty.

The attack is being described as a significant escalation in the ongoing conflict.

Military correspondent Alistair Bunkall called it “far bigger” than previous missile strikes, signaling a potential shift in the region’s tensions.

Also Read: Joe Biden-Inspired Jeo Boden Meme Coin Leaves Rivals Dogecoin, Shiba Inu In The Dust With 75% Gain

In response, Israel has targeted locations in Lebanon, which it claims are used by Hezbollah militants, a group that is part of Iran’s ‘axis of resistance.’

The current situation marks Iran’s retaliation for Israel’s actions, intensifying the regional conflict.

Ethereum (CRYPTO: ETH) also experienced a substantial decline, dropping by 6.3% and trading at $2,446 as the market reacted to the unfolding events, according to data from CoinGecko.

Investors are clearly spooked, seeking safe-haven assets amid the escalating geopolitical crisis, leading to a swift sell-off in risk assets like cryptocurrencies.

The turbulence in the crypto market has also hit major players in the Bitcoin mining sector.

According to Benzinga Pro, Marathon Digital (NASDAQ:MARA) suffered the most among Bitcoin miners, with its shares plunging nearly 9% to $14.84 before recovering slightly.

CleanSpark (NASDAQ:CLSK) fell by almost 6%, while both Core Scientific (NASDAQ:CORZ) and Riot Platforms (NASDAQ:RIOT) saw a decline of about 4%.

In addition, Coinbase (NASDAQ:COIN), the leading U.S. cryptocurrency exchange, experienced an 8% drop in its stock on Tuesday, reflecting the broader market’s nervousness.

What’s Next: Analysts will likely explore these dynamics further at Benzinga’s Future of Digital Assets conference on Nov. 19, where experts will discuss the impact of global events on digital asset markets and how investors can navigate the volatile landscape.

Read Next:

Bernstein Raises Riot Platforms Price Target To $22, Maintains Outperform Rating

Image: Shutterstock

Recommended

This Gold Miner Has the Map, the Metal, and the Momentum - Ad

The Best Case for Gold, Ever - Ad

Scarcity Meets Momentum - Ad

"Mad Money" star Jim Cramer discusses MP Materials, Resideo Technologies and Canadian National Railway on Friday, Sept. 12.

Macron Warns World Will Know By Monday If Putin 'Played' Trump Again

French President Emmanuel Macron has voiced apprehensions about Vladimir Putin potentially manipulating President Trump.

Is This Elon's Worst Nightmare?

Is This Elon's Worst Nightmare? - Ad

Elon's empire looks doomed - crashing sales, lost tax credits, and media backlash. But behind the scenes, Tesla is about to unleash a breakthrough Forbes calls a "multi-trillion-dollar opportunity." It's not the end - it's the start of a 25,000% AI comeback.

The 4 rules for cash: How to manage your money the smart way

Let’s talk about cash.

What's Going On With Dell Stock Thursday?

Dell Technologies Inc. (NYSE:DELL) is in the spotlight Thursday ahead of its second quarter earnings report today after the market closes.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50. - Ad

The AI company making heart disease easier to detect is offering investors $3.50 investment units that include one convertible preferred share and one warrant, providing investors with access to 2 common shares. Based on analyst 1- year projections, that amounts to a near-term 500% return potential.

Mortgage Fraud Is Now A Trump-Era Flashpoint—Here's Everything You Need To Know

Given the recent high-profile cases, Benzinga decided to take a closer look at what mortgage fraud is and how it can be committed.

NextEra Energy Eyes A Nuclear Revival

NextEra Energy plans to bring the Duane Arnold nuclear plant back online as major tech companies seek more nuclear energy.

The Next Palantir Moment Could Be Here

The Next Palantir Moment Could Be Here - Ad

A $21M market cap company is landing multimillion-dollar contracts with banks and governments. With only 9.7M shares in the float, scarcity could spark explosive moves.

Inside Warren Buffett's Decision to Keep Leading Berkshire Hathaway in His 90s

Warren Buffett's retirement decision has sparked debates about his reasons for working past the typical retirement age and his current choice to step aside.

Social Security whistleblower who claims DOGE mishandled Americans' sensitive data resigns from post

WASHINGTON (AP) — A Social Security official who has filed a whistleblower complaint alleging the Department of Government Efficiency officials Americans' sensitive information says he's resigning his post because of actions taken against him since making his complaint.

Gold Alert: Extraordinary Upside in One Stock (Not a Miner)

Gold Alert: Extraordinary Upside in One Stock (Not a Miner) - Ad

Gold has hit all-time highs, breaking $3,600 an ounce - but history shows it could be on the verge of its biggest bull run in over half a century... triggered by a likely major event, eerily similar to what happened in the 1970s. (It's NOT inflation or anything you're likely expecting.) Now, a top analyst says you can capture ALL of the upside without touching a risky miner or a boring exchange-traded fund. He sees extraordinary potential gains long term with very little risk.

Trump Family-Backed World Liberty Financial Token Crashes After Initial Rise On First Trading Day

The newly tradeable World Liberty Financial (WLFI) token derailed after the initial flourish on Monday.

Stock Of The Day: Breakdown In Archer Aviation?

Shares of Archer Aviation have broken a support level. This can be bearish and would suggest they trend lower.

Why Are Wall Street Insiders Moving Their Money to This One Asset?

Why Are Wall Street Insiders Moving Their Money to This One Asset? - Ad

Something far more consequential for your money than tariffs is unfolding behind the scenes... Tucked inside this overlooked directive is a plan set to be executed for the first time in in U.S. history. One Stansberry Research's Senior Partner says it's set to trigger a rare window for potentially explosive gains in ONE asset immediately. (Not AI or crypto). Wall Street insiders are already positioning themselves... and he insists you should, too, before it's too late.

Trump Ends De-Minimis Exemptions To All Countries: How This Will Impact Your Online Shopping

President Donald Trump's executive order, which ends de minimis exemptions, is set to take effect on Friday. This will effectively close the duty-free shipping loophole that allowed small commercial packages worth $800 or less to enter the United States without being subject to taxes or tariffs.

Sikh truckers see spike in anti-immigrant vitriol after deadly Florida crash

Members of California’s Sikh trucking community say a deadly crash involving one of its own, which triggered heated national , has led to a spike in anti-Sikh rhetoric.

From Ore to Gold Bars-This Nevada Mine Is Already Producing

From Ore to Gold Bars-This Nevada Mine Is Already Producing - Ad

Most juniors explore...Few actually produce. This one's already pouring gold thanks to infrastructure that would cost tens of millions to build today. With major land holdings and room to scale, it's one to watch. Discover the little known gold company that's already producing.

Trump to host top tech CEOs — except Musk — at White House dinner Thursday

WASHINGTON (AP) — will host a high-powered list of tech CEOs for a dinner at the White House on Thursday night.

Bondi Fires DOJ Employee Over Alleged Gesture Toward Guard Troops

AG Pam Bondi fired a DOJ paralegal for allegedly flipping off National Guard troops in D.C., underscoring tensions around Trump's federal crime crackdown.

The $25M Contract Nobody Is Talking About

The $25M Contract Nobody Is Talking About - Ad

One deal alone covers the entire valuation of this overlooked stock. And more contracts are already stacking up in Europe and the US.

LSD shows promise for reducing anxiety in drugmaker's midstage study

WASHINGTON (AP) — reduced symptoms of anxiety in a midstage study published Thursday, paving the way for additional testing and possible medical approval of a that has been banned in the U.S. for more than a half century.

Nvidia's Robotics Platform Is Becoming The 'De Facto Standard,' Says Gene Munster As Chipmaker Launches $3,499 'Robot Brain'

Gene Munster said Nvidia's robotics platform is becoming the "de facto standard" as the company launches its $3,499 Jetson Thor "robot brain" chip, positioning robotics as a key long-term growth driver ahead of its highly anticipated Q2 earnings report.

This Gold Miner Has the Map, the Metal, and the Momentum

This Gold Miner Has the Map, the Metal, and the Momentum - Ad

JPMorgan is forecasting that gold will push past $4,000, and this Nevada operation is positioned to benefit. Historical estimates show its property could hold around 1.8 million ounces of measured and indicated gold, backed by infrastructure and billionaire investors. The company's already producing, refining gold onsite and looking to expand. That's not a dream-stage story-that's a head start.

Marriott, Toast, KeyCorp And More On CNBC's 'Final Trades'

Marriott International, which is down around 4% year-to-date, is Jenny Van Leeuwen Harrington's final trade.

Salesforce, Rocket Lab, American Eagle, Gitlab And Figma: Why These 5 Stocks Are On Investors' Radars Today

CRM, RKLB, AEO, GTLB, FIG were among the stocks seen trending among investors on Wednesday, Sep. 3, 2025.

The Best Case for Gold, Ever

The Best Case for Gold, Ever - Ad

What's Happening With Regeneron Pharmaceuticals Stock On Monday?

Regeneron's Phase 3 trials for cat and birch allergies show significant symptom relief and strong safety results, paving the way for future development.

Cat in San Francisco euthanized after latest bird flu infection tied to raw pet food

Federal health officials are warning that certain lots of raw cat food may be contaminated after a pet cat in San Francisco that ate the food became infected with the virus and had to be euthanized.

Scarcity Meets Momentum

Scarcity Meets Momentum - Ad

With insiders and institutions holding most of the float, just 9.7M shares are truly available. New contracts could ignite moves that Wall Street can't ignore.

What happens to Trump’s tariffs now that a federal appeals court has knocked them down?

WASHINGTON (AP) — President Donald Trump has audaciously claimed virtually unlimited power to bypass Congress and impose sweeping taxes on foreign products.

Trump's plan for a drug advertising crackdown faces many hurdles

WASHINGTON (AP) — Health Secretary Robert F. Kennedy Jr. and other administration officials are vowing a crackdown on deceptive drug ads, but the effort is likely to face multiple headwinds, including pushback from industry and layoffs among regulators tasked with leading the effort.

Is This Elon's Worst Nightmare?

Is This Elon's Worst Nightmare? - Ad

Ukrainian Drone Sparks Blazes Just Miles From Putin's Mysterious $1.5B Black Sea Palace

A Ukrainian drone strike has ignited widespread forest fires in close proximity to Russian President Vladimir Putin's opulent Black Sea residence, colloquially known as "Putin's Palace".

Trump-Backed World Liberty Sinks As Billionaire Justin Sun Protests, Then Reinvests

Justin Sun clashed with Trump-linked World Liberty over frozen $WLFI tokens before reversing course Friday with a fresh $20M investment.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50. - Ad

Trump Dispels Health Rumors With Golf Outing, Vance Says President Is In 'Incredibly Good Health'

President Donald Trump was seen golfing at Trump National Golf Club in Sterling, Va., on Saturday, countering speculation about his health.

Homes Have Shrunk To The Smallest Average Size In 20 Years: Here's Why It Happened

Newly built homes in the U.S. are shrinking due to higher mortgage rates and affordability concerns. Buyers are adjusting expectations.

The Next Palantir Moment Could Be Here

The Next Palantir Moment Could Be Here - Ad

A $21M market cap company is landing multimillion-dollar contracts with banks and governments. With only 9.7M shares in the float, scarcity could spark explosive moves.

Heads Up! The Bear Cave Nails These Pump-And-Dump Stocks: QMMM, Cuprina, Pitanium, Mint And More

The Bear Cave warns about a rash of pump-and-dump stock schemes revolving around thinly traded China-based stocks.

Trending Now