Bitcoin recently fell below $100,000 for the first time in over a month, dipping to around $99,300. This 4% drop came just after U.S. airstrikes on Iran, which impacted the entire cryptocurrency market, causing a roughly 7% decline.
Ether, the second-largest cryptocurrency, declined even more sharply, falling nearly 10%. The selloff followed significant geopolitical tensions, particularly the U.S. bombing of key nuclear sites in Iran.
In June, the United Nations revealed that Iran was not adhering to rules against developing nuclear weapons. This news led to escalated military actions, including bombings by Israel and retaliatory threats from Iran. Recently, former President Trump announced the U.S. would join the conflict, stating this represented a pivotal moment for international relations.
Bitcoin’s slip below $100,000 is notable, especially since it had a strong performance over the past year. After Trump’s election in November, Bitcoin’s value surged, hitting new highs as market optimism grew around his pro-crypto stance.
As financial expert Mike Novogratz notes, “Bitcoin tends to react to major global events." This pattern is evident as the cryptocurrency often aligns with tech stock trends. After reaching all-time highs earlier this year and then dipping to $75,000 in April due to harsh tariffs, Bitcoin recently bounced back in May.
However, geopolitical instability continues to weigh heavily on the market. As observed in recent trading trends, Bitcoin’s correlation with global events like the U.S.-Iran situation makes it a rollercoaster for investors.
In addition to market fluctuations, the increasing interest in cryptocurrency ETFs has fueled some rallying; yet, uncertainty remains. While Bitcoin’s journey reflects broader economic shifts, it also highlights the ongoing volatility in the crypto arena.
For more details, you can visit Binance for real-time updates on cryptocurrency prices.
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Bitcoin,Cryptocurrency,Ethereum
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