Geopolitical Tensions Impact the Crypto Market Amid Israel-Iran Conflict
Friday, 19 April 2024, 05:00
Geopolitical Tensions Impact the Crypto Market
This latest escalation in the Israel-Iran conflict temporarily rattled the crypto market. Israel's missile strikes triggered a brief decline in the value of Bitcoin to below $60,000.
Market Reactions and Recovery
- Bitcoin and Ethereum both experienced a momentary drop in value due to the conflict.
- Bitcoin dropped to $60,000, while Ethereum reached $2,876 before rebounding.
- The total crypto liquidation amount was $49.35 million in the last hour.
Despite the fluctuations, experts are optimistic about Bitcoin's future post-halving as ETF activities and regulatory changes shape market sentiment.
Expert Opinions
- Deutsche Bank analysts anticipate sustained high Bitcoin prices due to potential Ethereum ETFs and central bank rate cuts.
- Glassnode and Coinbase Institutional highlight the significance of Bitcoin ETF activities post-halving.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.