International tensions are high this week as Iran and Israel reportedly exchanged missile fire. In response, the prices of risky assets, including cryptocurrencies, are plummeting. Cryptocurrencies shaken. Where do Bitcoin (BTC), Ether (ETH), and other cryptos stand ?
Tensions between Israel and Iran shake crypto markets
Over the weekend, Iran’s attack on targets in Israel severely shook cryptocurrency markets: Bitcoin, for instance, lost $8,000 in just a few hours. Since then, tensions have been reignited by a retaliatory strike attributed to the Israeli military, which took place this Friday.
In the middle of the night, the price of Bitcoin thus fell below the psychological threshold of $60,000 before quickly recovering:
This quick rebound can be attributed to the atmosphere of excitement surrounding the halving, which will take place in a few hours for the largest cryptocurrency. Other crypto assets were also shaken last night. ETH lost -7% within 2 hours before rebounding as well.
Cryptocurrencies in decline this week
Looking at a weekly timeframe, cryptocurrencies have been struggling since last weekend. Bitcoin is down 9%, ETH is down 12%, and Solana’s SOL lost 17%. However, among the top 10, the most dramatic drop is seen in Dogecoin (DOGE): the memecoin lost 24% over the week.
The situation is still evolving this morning, as the attack in Iran has not yet been claimed. It is therefore possible that this may still affect the prices of cryptocurrencies. Especially since, as we have seen, they are also influenced by a less macro event. Bitcoin’s halving is approaching, and its effects on prices will be closely watched.
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Source : TradingView
