War effect bitcoin $BTC 😱

pushing b$BTC lower😬😟😟

The ongoing conflict between Iran and Israel has significantly impacted Bitcoin trading, reflecting the cryptocurrency's sensitivity to geopolitical instability. Here's how the war is affecting Bitcoin$BTC

- Bitcoin's price plummeted below $103,000 following Israel's targeted strikes on Iranian nuclear facilities, with Ethereum and other major altcoins experiencing similar declines.

- The conflict triggered $1.15 billion in crypto liquidations within 24 hours, with Bitcoin and Ethereum facing sharp declines.

- Despite initial downturns, Bitcoin has shown resilience, rebounding over 6.5% to reach $107,775 as of June 17 ¹.

*Investor Sentiment*

- Investors are seeking safer assets, such as gold, amid the uncertainty, with gold-backed tokens like PAXG surging in demand.

- Institutional investors, particularly those trading Bitcoin futures on the Chicago Mercantile Exchange (CME), have maintained their positions, indicating confidence in Bitcoin's long-term trajectory .

*Oil Prices and Inflation Concerns*

- JPMorgan forecasts crude prices could reach $120 per barrel if Iran's exports are disrupted, contributing to inflation and potentially prompting the Federal Reserve to reconsider interest rate hikes.

- Rising oil prices and inflation concerns could lead to reduced liquidity in crypto markets, pushing Bitcoin prices lower .