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Trump's Bitcoin bet boosts BTC and ETH as Wall Street faces panic over Iran; analysis!!
Despite adverse geopolitical winds, the Bitcoin and cryptocurrency market has shown remarkable resilience.
Global financial markets closed a turbulent week marked by rising tensions between Israel and Iran, with traditional assets facing significant volatility, while cryptocurrencies demonstrated surprising resilience given all circumstances.
Israeli attacks on Iranian nuclear facilities on June 13 sent shockwaves through the stock markets and triggered a flight to safe assets across various classes.
The S&P 500 fell half a point last week, remaining below the important psychological level of 6,000 after news of the airstrikes. The Nasdaq Composite, heavily weighted in technology, plummeted 1.3% as investors grappled with the implications of a potentially broader conflict in the Middle East.
Gold futures surged by up to 3.17%, reaching around $3,468 per ounce, as investors sought traditional safe-haven assets, while crude oil prices faced extreme volatility. West Texas Intermediate crude futures initially rose nearly 13% last week, reflecting concerns about potential supply disruptions from the third-largest OPEC producer.