Bitcoin fluctuated sharply after Iran-Israel tensions
Crypto asset markets fluctuated today, led by Bitcoin. The fluctuation in prices was influenced by Israel's retaliatory attack on Iran before the halving event.
Bitcoin fluctuated following the news that Israel launched an attack on Iran.
While crypto assets lost sharp value after the attack, market movements eased slightly as details such as Israel's attack was limited and Iranian officials denied that missiles were launched into the country.
Following media reports that Israel hit a facility in Iran late yesterday, Siavosh Mihandous, a senior commander of the Iranian Army, said the noise heard in Isfahan throughout the night was caused by air defense.
In a statement carried by state media, Mihandous said the attack did not cause any damage.
Iran had launched a drone and missile attack on Israel over the weekend, and Israel's response was being watched to see how it would react.
CRYPTOS FLUCTUATE
After the attacks, safe-haven demand increased in the markets and risk appetite declined. These developments caused the value of Bitcoin to drop to 60 thousand dollars with a momentary decline. Ethereum also saw below the resistance line of 3 thousand dollars percent.
Bitcoin, which partially recovered in the morning hours, was traded at 62 thousand dollars, while Ethereum was traded at 3 thousand dollars.
While expectations for the halving event planned to take place tonight were effective in the return in prices, Iran's statements downplaying the event also caused a partial recovery in risk appetite.
'THE HALVING IS PRICED IN'
On the other hand, banking giant JPMorgan stated that the halving event is already priced in at the moment. JPMorgan pointed out that the market is still in an overbought state and that the Bitcoin price could see a downtrend after the halving.
While ongoing geopolitical concerns overshadow expectations for the Bitcoin halving expected later tonight, the long-term escalation of geopolitical tensions is driving safe-haven demand in the markets. This is seen as a negative for risky assets such as the stock market and Bitcoin.
