Market Update: Bitcoin Eyes Washington
A week after Israel's preventive strike on Iran, the Middle East remains extremely tense.
A week after Israel's preventive strike on Iran, the Middle East remains extremely tense. Crypto market investors are holding their breath: will there be another escalation, will the US under Donald Trump intervene militarily?
According to White House spokesperson Karoline Leavitt, President Trump wants to give himself two weeks to decide on a possible war involvement. That message came out Thursday evening during an official press conference. At the same time, Trump still sees a "real chance" of a diplomatic exit.
Yet nerves are rising in the crypto market. For a while there have been signals that the US could actively get involved in the conflict. And you can feel it: in the night from Wednesday to Thursday, Bitcoin briefly fell below the $104,000 mark. It now seems BTC has recovered somewhat and is hovering around $104,700.
Analyst Amr Taha of CryptoQuant warns of a potentially dangerous technical signal: on Binance there is a so-called 'liquidation cluster' forming around $104,000. A clear drop below that level could trigger a cascade of sell orders.
On the bright side, there’s positive news: Bitcoin Spot ETFs continue to perform strongly well. For the eighth day in a row, billions of dollars are flowing into these exchange-traded funds, totaling more than $2.4 billion this week. A sign that institutional investors are keeping a cool head.
In the altcoin space, uncertainty is palpable. Several tokens have taken heavy losses. Aerodome Finance (AERO) is today one of the biggest losers in the top 100, down 8.5%. Not surprising: the token previously rallied after a Coinbase listing. Investors are now seizing the opportunity to take profits.
Hyperliquid (HYPE), the much-discussed project, also has to give up some ground. At press time, the coin is trading at $36.61, more than 4% lower than a day earlier.
Geopolitical tensions bring unrest, but also opportunities. As long as Washington hesitates, Bitcoin remains balanced on the edge, between diplomacy and escalation.
