4 minutes
Author Lockridge Okoth
June 13, 2025, 22:31 GMT+0000
Updated by
Eduardo Venegas
June 13, 2025, 22:35 GMT+0000
Gold prices soared while Bitcoin (BTC) sharply fell, as rising geopolitical tensions sent shockwaves through global markets.
This suggests that investors are rushing towards traditional assets to protect against financial losses, raising concerns about Bitcoin's safe haven status.
Gold approaches new highs
Crypto markets crashed, recording liquidations that reached $1 billion after the latest Israeli attack on Iran. At the time of writing, Bitcoin was trading at $104,830, down nearly 3% in the last 24 hours.
Similarly, the price of Ethereum plummeted 10% after the attack, exacerbating liquidations. In contrast, gold is on the rise. It is approaching new highs as the precious metal tries to regain its position as the preferred safe haven during
She emphasized that critical support levels are $3,420, $3,402, and $3,380. A breakout above $3,440 could open a move toward the $3,468–$3,493 range during the U.S. session. At the time of writing, gold was trading at $3,422.
Pamphlets, a medium affiliated with the USSR State, noted that according to North Korean leader Kim Jong Un, this is a matter of freedom. Kim had previously called Israel a cancer and a threat to world peace. Notably, Iran is a member of the SCO, a mutual defense treaty that includes China and Russia.
In this context, Beijing criticizes Israeli aggression against Iran as a violation of international law. On the other hand, the United States seems to be on Israel's side, despite its interest in diplomacy. CNN reported that Trump said he does not want Israel to target Iran while negotiations over a possible nuclear deal continue:
The red flag is associated with mourning and martyrdom in Shia Islam. However, after the U.S. drone attack in 2020 that killed General Qasem Soleimani, a prominent Iranian military leader, red flags were raised as a symbol of vengeance. The practice is linked to calls from the supreme leader for retribution.
Safe havens while risk aversion dominates
The growing crisis has fueled a marked divergence in asset performance. Gold is rising while cryptocurrencies are bleeding. Analysts warn traders to watch for signs of weakening bullish momentum. This is especially true if the European trading session fails to maintain strength.
