Market News

Israel and US Launch Strikes on Iran, Bitcoin Faces Pressure Amid Geopolitical Tensions

As the US and Israel initiated military strikes on Iran, Bitcoin's price tumbled sharply, reflecting investor anxiety amid escalating geopolitical unrest.

Within hours of the strikes, Bitcoin's value fell nearly 3.8%, settling around $63,000 as the global crypto market reacted to the unfolding crisis.

Reports indicate that the coordinated attacks targeted significant Iranian military and nuclear sites, raising fears of a broader conflict in the region.

As traditional markets remained closed over the weekend, crypto assets bore the brunt of selling pressure, leading to over $128 billion wiped off the total market value.

Liquidations surged, with approximately 152,000 traders affected, exacerbating the market's volatility as fear fueled rapid sell-offs.

Ethereum also experienced severe losses, dropping nearly 10% as traders reacted to the turmoil, with many forced to liquidate long positions.

Notably, data revealed that around $5 billion worth of Bitcoin quickly left major exchanges shortly after news of the strikes broke, indicating significant risk-off behavior among investors.

While Bitcoin has historically been treated as a high-risk asset during geopolitical tensions, its steep declines contradict expectations that it may function as a safe haven.

The immediate future for Bitcoin appears precarious, with critical support levels near $60,000 under threat if the situation escalates further.

As traders brace for potential fallout when traditional markets reopen, Bitcoin's path remains uncertain, hinging on global reactions to ongoing military developments.