Bitcoin price dropped below $60,000 late on Thursday before rebounding above $64,000 on Friday morning in volatile trading ahead of an upcoming halving event. Some analysts believe bitcoin miners have been selling their holdings to shore up their balance sheets before the halving, which could reduce the profitability of some mining operations. Geopolitical tensions like attacks between Israel and Iran last weekend also impacted cryptocurrency prices recently. Investment flows into bitcoin exchange-traded funds, which launched in the US last year, have also supported the cryptocurrency's price gains.