$BTC On Wednesday, the price of Bitcoin fell below the $104,000 mark, reaching an intra day low of $103,362 after reports of airstrikes in Tehran that shook global markets and triggered risk-averse sentiment.

The cryptocurrency dropped approximately 4.1% in the last session, reflecting investors' caution amid escalating tensions in the Middle East. In contrast, the price of gold rose to $3,410 per ounce, which is about 0.6% higher over the last hour, as investors flocked to traditional safe-haven assets. The increase in precious metal prices was further supported by a weakening dollar and concerns about geopolitical flare-ups. The decline of Bitcoin also contributed to $920 million worth of derivative instruments being liquidated in a single day, of which $875 million were long positions.