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.

Iran's foreign ministry called on the United Nations Security Council to take "meaningful action" to prevent threats against regional peace and security, after Tehran launched a salvo of missiles against Israel on Tuesday.