Bitcoin's decline in Iran's attack is a warning flash for the world market!
There is currently no end to speculation about Bitcoin Halves. Because the Bitcoin halve is currently at the door. Bitcoin has struggled for traction after its steepest price plunge in more than a year. We have seen quite a few ups and downs in the crypto market in recent times. Escalating geopolitical tensions in the Middle East as part of a broader decline in cryptocurrency markets averted risks.
Bitcoin prices have continued to rise since the approval of spot bitcoin ETFs earlier this year, but the largest cryptocurrency, bitcoin, suddenly lost 7.7%. That is the biggest retreat since March 2023. For example we saw the price of Bitcoin suddenly drop and it was trading around $60k which is down from $71k. Not only the price of Bitcoin has decreased, but also the value of all altcoins has decreased significantly. Most other major currencies such as Ether, Solana and meme-crowd favorite Dogecoin posted 24-hour losses.
We are currently aware of the Palestine Israel war. Where Israel is illegally invading. A new dimension has been added here. For example, recently Iran launched drone and missile strikes against Israel in apparent retaliation for an attack in Syria. An Israeli missile strike on Iran's embassy in Syria, originally in retaliation, killed top Iranian military officials, taking the conflict in the region to a dangerous new level. Digital asset trading over the weekend gives investors a window into the likely mood when traditional markets reopen on Monday — though a lot could change between now and the reopening.
But in recent times this tension has added a new dimension. Tensions hurt stocks on Friday, especially with Iran gearing up for an attack on Israel. Even so, the tension has renewed safe havens like bonds and the dollar. This time the market has become more volatile as well as altcoins have fallen significantly as well as derivatives with around $1.5 billion in bullish crypto wagers being dumped on Friday and Saturday. One of the heaviest two-day liquidations in at least six months.
Leverage has been completely overwhelmed in the last three days by the current conditions in the market. And the value of digital assets has materially worsened as leverage is completely overwhelmed. We saw that last month the price of Bitcoin broke past records and climbed to all-time highs. Bitcoin is down about $13,000 from a record high of $73,798. The price surge was driven by demand for US exchange-traded funds that debuted in January, helping the token reach all-time highs. But lately the net flow in commodities has declined.
@kawsar8035 your post shows how geopolitical tensions impact the prices of Bitcoin and other cryptocurrencies. Such events bring volatility to the market, presenting both risks and opportunities for investors. Your analysis is accurate and useful.
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I can see that the market now follows the news due to which the market is pumping and dumping anytime.
I heard about the Iranian attack. But it is very sad to hear that global markets have collapsed due to Iran's attack. Actually we want the market to be good all the time. Let's see what happens next.
I don't think I've seen such a sudden fall in the crypto market before. Anyway not wanting to go in that direction right now, Bitcoin is currently near $66,300 and Bitcoin as well as other alt coins are following a bullish trend.
I think the market overreacted in advance. Iran doesn't want to engage in war currently. Nice read.