Bitcoin Tumbles as Geopolitical Tensions Cast Shadow Over Halving

• Bitcoin dipped below $60K for a short time as the wider crypto market collapsed.
• The Israel-Iran violence seems to have an adverse effect on the crypto market.
• The anticipated Bitcoin halving event is set to take place on Friday.

Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, continued to follow a downtrend irrespective of the bullish sentiment generated by the approaching halving event on April 20. 

In the past 24 hours, Bitcoin went as low as $59,700, but the buyers took advantage and pushed the price of the digital asset back above $60,000. As per the data from CoinMarketCap, the price of Bitcoin (BTC) stands at $62,000 as of 12:30 a.m. ET Friday. It is important to note that in the past seven days, Bitcoin has dropped 11.60%.

The trading volume of Bitcoin is up 2.34% in the past 24 hours, while the market capitalization of the leading digital asset stands at $1.23 trillion. The current price is 15.66% down from BTC’s all-time high witnessed in March at $73,750. 

As per a report from Bloomberg, unconfirmed reports of explosions in Iran, Iraq, and Syria caused i…

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