Bitcoin price falls to $62k due to rate fears and Iran-Israel tensions

From Investing.com: 2024-04-16 01:39:26

Bitcoin price fell amid fragile risk appetite due to higher U.S. interest rates and Middle East tensions. The cryptocurrency dropped to $62,555.0, down 3.6% in 24 hours. Investors favored traditional safe havens like the dollar and gold.

Hong Kong approved spot crypto ETFs, offering some market exposure. However, weak risk appetite overshadowed the news. While three providers gained approval, they are yet to launch offerings. The impact on Bitcoin remains uncertain.

Cryptocurrency prices slid on Tuesday due to weak risk appetite and U.S. rate fears. Bitcoin fell 2.9% to $3,047.26, while Ethereum and Solana also saw losses. A flash crash occurred over the weekend following Iran-Israel tensions, with further reports of possible retaliation from Israel.

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