The Bitcoin price dropped by 4% to $60,164 due to heightened tensions between Israel and Iran.
Some analysts believe that the reaction to the geopolitical news may be overblown, highlighting the volatility typically seen in financial markets during US election years.
Prominent crypto analysts suggest that the Bitcoin price could recover, with increased market liquidity and anticipation of Israel's response to the conflict.
Despite the immediate impact, it is emphasized that the broader economic backdrop remains favorable for risk assets in the medium term.