International tensions are high this week, as Iran and Israel reportedly exchanged missile launches. In response, the prices of risky assets, including cryptocurrencies, are at half-mast. What’s the latest on Bitcoin (BTC), Ether (ETH) and other cryptos?
Tensions between Israel and Iran shake crypto markets
This weekend, Iran’s attack on targets in Israel sent shockwaves through the crypto markets, with Bitcoin losing $8,000 in the space of a few hours. Since then, tensions have been rekindled by an aftershock attributed to the Israeli army, which took place this Friday.
In the middle of the night, the Bitcoin price fell below the psychological threshold of $60,000, before quickly recovering:
The significant volatility of Bitcoin’s price overnight
This rapid rebound can be attributed to the atmosphere of excitement surrounding the halving, which will take place in a few hours’ time for the largest cryptocurrency. Other crypto assets were also shaken overnight. ETH lost -7% in the space of 2 hours, before rebounding as well.
Cryptocurrencies at half-mast this week
From a weekly perspective, we can see that cryptocurrencies have been struggling since last weekend. Bitcoin is down 9%, ETH is down 12%, and Solana’s SOL is down 17%. In the top 10, however, the most spectacular fall concerns Dogecoin (DOGE): memecoin loses 24% over the week.
The situation is still developing this morning, as the attack in Iran has not yet been claimed. It is therefore possible that this will further affect the price of cryptocurrencies. All the more so since, as we’ve seen, they are also under the influence of a less macro event. The halving of Bitcoin is approaching, and its consequences on prices will be particularly closely observed.
