Cryptocurrencies were under pressure Wednesday, after bitcoin slid back to $60,000 to kick off what is usually one of its strongest months. The flagship crypto was last off by more than 1% at $60,951.

Bitcoin prices plunged today, dropping to nearly $60,000 after global investors responded to the latest developments signaling rising tensions in the Middle East.

Bitcoin fell to $60,000 on Tuesday evening as tensions in the Middle East worsened due to Iran’s attack on Israel. The leading cryptocurrency dropped nearly 5%, trading at $60,834.

Cryptocurrencies slid on Tuesday night, with bitcoin dropping back to $60,000. The crypto has had a shaky start to what is usually one of its strongest months.

The biggest of the cryptos took a nosedive as Middle East conflict fears sent investors fleeing risky assets. Bitcoin (BTC) which climbed to $64,000 recently plunged back to $60,000. Headlines reporting Iran prepping ballistic missile attacks on Israel fueled the sell-off.