🚨🚨💥 Bitcoin Sinks as Israel Escalates Iran Standoff With Airstrikes
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Bitcoin fell sharply late Thursday after Israel launched strikes on Iran, rattling global markets and sparking a flight from risk assets.
Bitcoin fell more than 4% late Thursday after Israel launched airstrikes against targets in Iran, escalating tensions in the Middle East and prompting a broad selloff across risk assets.
The world’s largest cryptocurrency dropped to $103,556, down from a 24-hour high of $108,500, according to CoinGecko data.
Israel confirmed the strikes targeted Iranian military infrastructure near Tehran and Tabriz, in what it described as a “preemptive response” to growing threats.
In a press briefing on Thursday, Israeli Prime Minister Benjamin Netanyahu labeled Iran's nuclear ambitions a "clear and present danger," saying the preemptive response would "continue for as many days as it takes to remove this threat."
"We believe the market correction presents a good buying opportunity for risk assets that have strong fundamentals but have sold off hard as a result of the turmoil," he added.
Jamie Coutts, chief crypto analyst at Real Vision, agreed, adding that Bitcoin continues to behave as a risk-on, risk-off asset among short-term traders, but noted that institutional allocators are increasingly shaping its medium to long-term direction.
"That's why short term it can move with risk assets but long term outperform gold," he said.
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