Bitcoin fell to the $61,000 level. The move appears to reflect growing risk-off sentiment among investors as tensions rise in the Middle East.
As of 8:24 a.m. on the 11th, on CoinMarketCap, a site that tracks virtual asset prices, Bitcoin was at $61,429, down 0.49% from 24 hours earlier.
Bitcoin at one point on the 5th fell below $60,000. It is down 52.7% from the record high ($126,210) set on Oct. 6 last year. It rebounded to the $63,000 range on the 9th but fell again.
Ethereum was trading down 1.12% at $1,618.74. Ripple fell 3.51% to $1.09, and Solana was down 3.32% at $62.89.
The drop in virtual asset prices appears to be due to geopolitical conflicts in the Middle East. The regional situation, which had calmed after Israel and Iran halted exchanges of fire, worsened again after Iran shot down a U.S. military helicopter patrolling the Strait of Hormuz.
U.S. stocks in New York also turned lower again. On the 10th (local time), the Dow Jones Industrial Average on the New York Stock Exchange fell 953.33 points, or 1.87%, from the previous day to close at 49,918.78. Semiconductors and tech stocks, which led gains the day before, dropped sharply and drove the index lower.