(Reuters) - 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.

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.

(Reporting by Tom Westbrook; Editing by Muralikumar Anantharaman)