Bitcoin Price Fluctuates Amid Middle East Tensions

Bitcoin's price slipped below $62,000 as momentum stalled ahead of its anticipated block reward halving, dropping to a low of $61,867 and erasing gains over the past month. The wider crypto market also tumbled, with the combined market cap of all cryptocurrencies crashing by 6.4% to $2.4 trillion overnight. The market jitters are now linked to wider macro geopolitical concerns, including tensions in the Middle East, as well as a strong U.S. dollar exacerbating the crypto market slowdown.