Bitcoin
BTCUSD
-1.94% fell early Friday as it reacted to heightened global tensions in the Middle East and dropped alongside other risk assets.
It remains to be seen what sustained impact the geopolitical tensions will have on cryptos’ recent momentum. Amazon and Walmart are the latest companies to consider issuing their own stablecoins, according to a Friday report by The Wall Street Journal
BTCUSD
ETHUSD
XRPUSD
SOLUSD
GC00
Cryptocurrencies
Bitcoin Price Tumbles as Gold Rises. Why Crypto Is No Haven.
By Elsa Ohlen
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Updated June 13, 2025, 7:34 am EDT / Original June 13, 2025, 4:36 am EDT
In this article
BTCUSD
ETHUSD
XRPUSD
SOLUSD
GC00
Bitcoin
BTCUSD
-1.76%
fell early Friday as it reacted to heightened global tensions in the Middle East and dropped alongside other risk assets.
It remains to be seen what sustained impact the geopolitical tensions will have on cryptos’ recent momentum. Amazon and Walmart are the latest companies to consider issuing their own stablecoins, according to a Friday report by The Wall Street Journal.
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It comes less than a month after U.S. banks JPMorgan Chase, Bank of America and Citigroup were also reported to be exploring issuing a stablecoin —a digital asset pegged to a fiat currency, typically the U.S. dollar.
The world’s largest crypto was down 2.6% over the past 24 hours to $104,615, according to CoinDesk. It dropped to as low as $ 103,274 overnight, or down about 4% on a 24-hour basis, but has recouped some of those losses since.
Israel launched a wide-ranging strike on Iran overnight, targeting the country’s nuclear program and military leadership. Oil prices jumped and markets fell. Futures tracking the S&P 500 were down 1.4% early Friday morning.
Ether
ETHUSD
-4.08%
and #xrp
XRPUSD
-1.58%
were down 8.5% and 5%, respectively. Solana
#solana -5.35%
plummeted nearly 10%.