Bitcoin slides below $60,000 on reports Israel strikes Iran

Cryptocurrencies fell heavily and bitcoin broke below $60,000 on Friday in a rush out of risky assets following reports of an Israeli missile strike on Iran.

Bitcoin slid more than 5.5% to $59,961 in the Asia session as the U.S. dollar rose broadly. Ether fell by a similar margin, dropping below the $3,000 barrier to $2,895.

Israeli missiles hit a site in Iran, ABC News reported, citing a U.S. official, days after Iran launched a drone strike on Israel.