#MarketRebound

Bitcoin lost 2.8% in 90 minutes, dropping from $106,042 to $103,053 after the Israeli strikes.

More than $427 million in long positions were liquidated within 24 hours.

Crypto analysts anticipate a quick reversal in favor of Bitcoin.

The world’s largest cryptocurrency dropped to $103,556, down from a 24-hour high of $108,500, according to data.

Israel confirmed the strikes targeted Iranian military infrastructure near Tehran and Tabriz, in what it described as a “preemptive response” to growing threats.

In a press briefing on Thursday, Israeli Prime Minister Benjamin Netanyahu labeled Iran's nuclear ambitions a "clear and present danger," saying the preemptive response would "continue for as many days as it takes to remove this threat."

Bitcoin miners were struggling earlier this year, but Bitdeer said this week that it minted 196 BTC in May, an 18% increase from April. Data from Farside Investors shows that four top Bitcoin miners—CleanSpark, MARA, Riot Platforms, and HIVE—minted more BTC in May than in April, as well.