Bitcoin Price Tumbles 3.6% As Israel Vows Revenge For Iran Missile Attack, While Traders Turn To This Meme Coin ICO Amid The Crypto Crash
The Bitcoin price tumbled 3.6% in the last 24 hours to trade at $61,687 as of 03:37 a.m. EST on trading volume that surged 40% to $50 billion. This comes as Israeli Prime Minister Benjamin Netanyahu vowed revenge on Iran as the conflict in the Middle East threatened to spiral out of control. Netanyahu warned Tehran would “pay a price” after it fired around 200 ballistic missiles at Israel on Tuesday evening following an Israeli invasion of Lebanon. Bitcoin Price Currently On A Bearish Trend The Bitcoin price has been on a sustained bullish trend in September, as it soared from the $53,700 support from September 8 towards a markup phase, according to data from GeckoTerminal . However, the $66,000 resistance has allowed the price of Bitcoin to plunge, forming a rounding top pattern. BTC trades below the 50-day Simple Moving Average (SMA), showing that the BTC price is currently on a short-term bearish trend. However, the Bitcoin price still trades above the 200-day SMA,...