🌍 Bitcoin Falls Sharply Amid Escalating Geopolitical Tensions

Bitcoin price drops three days in a row beginning Wednesday, reaching $102,664 on Friday. The increasing animosity between Israel and Iran drove this adjustment.

According to the New York Times article on Wednesday, US and European authorities believed Israel was prepared to strike Iran.

This may further inflame the Middle East and jeopardize or postpone US President Donald Trump's attempts to arrange an agreement to stop Iran from constructing a nuclear weapon, the report said. The US withdrew ambassadors from Iraq and allowed US military family members to leave the Middle East due to growing tensions. When Israel or the US attack, Iran's Defense Minister Aziz Nasirzadeh says US bases in the area would be attacked.

Bloomberg says that Israel bombed Iran's nuclear program and military sites early Friday morning.

Iran promises "harshly" retaliation against Israel and the US after these assaults. These geopolitical worries have caused market risk-off flows, which is bad for riskier assets like Bitcoin, which experienced significant liquidations of roughly $448 million and $1.15 billion in the cryptocurrency markets over the previous 24 hours.

Bitcoin price rose after the US-China trade pact in London in the first part of the week. BTC closed Monday at $110,263, 1.56% behind its all-time high, up over 4%. The US-China trade war's favorable turn was short-lived after US President Donald Trump's Wednesday tariff threats.

Before the July 9 deadline, Trump indicated he would implement unilateral tariffs and inform trade partners within two weeks. This increased uncertainty and mitigated the euphoria from US-China trade negotiations in London.

Riskier asset prices fell due to investor caution due to trade uncertainties.

#MarketPullback #IsraelIranConflict #TrumpTariffs #BTC110KSoon? $BTC