Bitcoin's price briefly dropped to $59,860 before recovering above the $60,000 mark, but it continues to face challenges in maintaining this level. The broader cryptocurrency market has also experienced a decline, with $295.34 million in positions liquidated in the last 24 hours. There has been a shift towards safer assets, as indicated by the significant trading volume in stablecoins. The ongoing conflict in the Middle East is contributing to volatility in the crypto market, with bitcoin being seen as a hedge against turmoil by some and seen as speculative by others.



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