Bitcoin's value plummeted to $103,900, down over 4% in the past 24 hours, amid reports of Israeli airstrikes in Tehran, Iran. According to Al-Jazeera, explosions were heard in the Iranian capital, confirming earlier report of an Israeli operation inside Iranian airspace.
Key Developments:
Israeli Military Action: Israeli forces bombed targets in Tehran, with President Netanyahu stating that the goal is to remove Iran's missile capabilities.
Market Reaction: Bitcoin is currently trading at around $103,793.85, with traditional markets also reacting to the news. US stock index futures and European market futures are down by approximately 1.5%.
Safe-Haven Assets: Gold surged to $3,428 per ounce, a 0.75% increase in the past hour, while crude oil jumped 9% to $74 per barrel.
Global Economic Implications: The 10-year Treasury yield dipped two basis points to 4.32%, and the US dollar is gaining against the euro and British pound but losing ground versus the yen and Swiss franc.
Expert Insights:
Israeli President Benjamin Netanyahu vowed to continue strikes until the threat from Iran is removed, targeting the country's nuclear program and ballistic missiles.
The International Atomic Energy Agency reported that Iran is not complying with restrictions on enriched uranium for the first time in two decades, adding to tensions.
President Donald Trump expressed preference for a deal with Iran over conflict, warning that an attack could lead to a "massive conflict".
💻Despite short-term price pullbacks during periods of geopolitical chaos, Bitcoin has historically bounced back relatively quickly due to its growing recognition as a digital store of value. With its growing recognition as a digital store of value, Bitcoin's long-term prospects remain promising, but the current uncertainty calls for cautious investment strategies.