CRYPTOCURRENCIES fell heavily and bitcoin broke below US$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 per cent to US$59,961 in the Asia session as the US dollar rose broadly. Ether fell by a similar margin, dropping below the US$3,000 barrier to US$2,895.

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

Iran’s Fars news agency said an explosion was heard at the airport in the Iranian city of Isfahan.

Oil, gold and bonds rallied sharply. REUTERS