Bitcoin (BTC) is currently experiencing consolidation, trading around $104,700 (approx. PKR 29.6 million). This marks its lowest level for June, a slight decline from earlier highs this year. The market is showing signs of caution, with analysts noting a "sell" signal for today, though the weekly outlook remains a "buy."
The ongoing Israel-Iran conflict is a significant factor. Geopolitical tensions typically lead investors to de-risk, moving away from volatile assets like crypto to safer havens. Recent missile strikes and cyberattacks have caused short-term dips in BTC and broader crypto market capitalization. While Bitcoin has shown relative resilience compared to altcoins, continued escalation could maintain volatility, decreasing liquidity and pushing prices further down. However, any de-escalation could prompt a swift recovery.
