Bitcoin Price Plunges Amid Global Market Selloff

Bitcoin's price took a hit on Wednesday, slipping to $83,076.05 as global markets experienced a wave of selling.

The drop represents a 1.4% decline over the past 24 hours, with over $550 billion wiped out from gold and silver in just three hours.

Chinese stocks also suffered losses, with the Shanghai index falling 1.75% and the CSI 300 dropping to its lowest level in 12 months.

The geopolitical tensions between Iran and the US added to the pressure, with Iran stating it is ready for 'real diplomacy' but remains prepared for an 'apocalyptic war' if attacked.