The drop extends a pattern where bitcoin sells off on geopolitical shocks before recovering, as the token's 24/7 liquidity makes it one of the few large assets traders can exit over the weekend.
Bitcoin neared $63,000 in Saturday trading after the U.S. and Israel launched military strikes on Iran, pushing the largest cryptocurrency down roughly 3% in a matter of hours and extending what had already been a difficult weekend for risk assets.
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