Bitcoin (BTC) surpassed the $97,500 mark amid the escalation of military conflict between India and Pakistan, resulting in significant volatility in the financial markets. According to CoinGecko, after an initial drop below $94,000 due to reports of India's missile strike on Pakistan, the price of BTC quickly recovered, reaching $97,260. This surge occurred amidst the liquidation of short positions worth $734 million, further strengthening bullish momentum.
The conflict caused by the attack in Kashmir has intensified geopolitical instability in South Asia, forcing investors to seek refuge in assets such as Bitcoin, which is increasingly seen as 'digital gold.' Statements by U.S. President Donald Trump regarding de-escalation added confidence to traders, contributing to the rise of BTC.
The crypto community is actively discussing Bitcoin's sensitivity to geopolitical events. Analysts note that the growing interest in cryptocurrencies in regions with unstable economies, such as Pakistan, also supports demand. However, high volatility remains a key risk as the market reacts to further developments. Whether Bitcoin can hold above $97,500 depends on the stabilization of the situation and global economic factors.
