Bitcoin tumbles below $60,500 amid rising Middle East conflict

Cryptocurrency markets plummeted on Thursday due to intensified geopolitical tensions following Iran's missile strikes on Israel. Bitcoin dropped below $60,500, and major altcoins saw significant declines. The global crypto market cap fell by 3.7% to $2.09 trillion. Stablecoins accounted for 91.61% of the total crypto market's trading volume.