{"id":582637,"date":"2024-10-02T10:27:14","date_gmt":"2024-10-02T10:27:14","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=582637"},"modified":"2024-10-02T10:27:14","modified_gmt":"2024-10-02T10:27:14","slug":"bitcoin-price-tumbles-3-6-as-israel-vows-revenge-for-iran-missile-attack-while-traders-turn-to-this-meme-coin-ico-amid-the-crypto-crash","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-tumbles-3-6-as-israel-vows-revenge-for-iran-missile-attack-while-traders-turn-to-this-meme-coin-ico-amid-the-crypto-crash","title":{"rendered":"Bitcoin Price Tumbles 3.6% As Israel Vows Revenge For Iran Missile Attack, While Traders Turn To This Meme Coin ICO Amid The Crypto Crash"},"content":{"rendered":"
The Bitcoin price tumbled 3.6% in the last 24 hours <\/span>to trade at $61,687<\/span><\/a> as of 03:37 a.m. EST on trading volume that surged 40% to $50 billion.<\/span><\/p>\n This comes as Israeli Prime Minister Benjamin Netanyahu vowed revenge on Iran as the conflict in the Middle East threatened to spiral out of control.<\/span><\/p>\n Netanyahu warned Tehran would “pay a price” after it fired around 200 ballistic missiles at Israel on Tuesday evening following an Israeli invasion of Lebanon.<\/span><\/p>\n The Bitcoin price has been on a sustained bullish trend in September, as it soared from the $53,700 support from September 8 towards a markup phase, according to data from <\/span>GeckoTerminal<\/span><\/a>.<\/span><\/p>\n However, the $66,000 resistance has allowed the price of Bitcoin to plunge, forming a rounding top pattern.<\/span><\/p>\n BTC trades below the 50-day Simple Moving Average (SMA), showing that the BTC price is currently on a short-term bearish trend. However, the Bitcoin price still trades above the 200-day SMA, suggesting that BTC may still move towards a reversal.<\/span><\/p>\n The BTC\/USD chart analysis on the 4-hour chart shows that BTC is currently on a bearish trend, as the bears seem to have capitalized on the rounding top pattern to push the price of Bitcoin below the $62,000 support.<\/span><\/p>\n If this pressure from the bears continues, BTC could plunge even further down, with $54,500 acting as the next possible support.<\/span><\/p>\nBitcoin Price Currently On A Bearish Trend<\/h2>\n