According to PANews, the recent plunge in Bitcoin has resulted in the liquidation of approximately 290,000 traders. This significant event in the cryptocurrency market has made it to the 29th position on the Weibo hot search list.
The drastic drop in Bitcoin's value occurred in the early hours of the day, coinciding with Iran's official launch of drone and missile attacks on Israel. This geopolitical tension has led to a sharp fall in cryptocurrency values.
The correlation between global political events and the volatility of the cryptocurrency market is evident in this scenario. The impact of Iran's attack on Israel has had a significant influence on the cryptocurrency market, leading to a sudden drop in Bitcoin's value and the subsequent liquidation of a large number of traders.
