Bitcoin Surges to $68K Following Death of Iranian Supreme Leader
- Bitcoin (BTC) reached a high of $68,200 on Coinbase after recovering from a dip to $63,000.
- The price increase followed US-Israeli air strikes in Iran and the confirmed death of Ayatollah Khamenei.
- Over the last day, approximately 157,000 traders were liquidated, totaling around $657 million in losses.
- This marks Bitcoin’s third-worst February ever, with a loss of nearly 15% for the month.
- Bitcoin is also on track for its worst first quarter since 2018, down nearly 23% year-to-date.
The recent surge in Bitcoin’s price is attributed to geopolitical events that may signal an end to hostilities between the US and Iran. Analysts suggest that if these tensions ease further, Bitcoin could maintain its gains.
Currently trading around $67,350, Bitcoin has shown resilience by recovering from significant losses earlier this week.(Source)
