Bitcoin's price dropped below $104,000, reaching an intraday low of $103,362, following reports of airstrikes in Tehran that unsettled global markets and triggered risk-off sentiment. This represents a 4.1% decline in the latest session, mirroring investor caution amid escalating Middle East tensions.
Current Market Situation:
Bitcoin Price: $103,990 (showing signs of stabilization after a sharp 4% drop)
24-hour High: $108,500
24-hour Low: $103,362
Liquidations: $427 million in long positions liquidated in the past 24 hours
Other Cryptocurrencies:
Ethereum: Slipped below $2,500
XRP: Retreated to $2.10
Market Analysis:
The Relative Strength Index (RSI) has dropped to 25.51, deep in oversold territory, indicating potential for a short-term relief bounce. However, MACD values remain heavily negative, suggesting bearish momentum is still dominant. Key levels to watch include immediate support at $102,533 and resistance at $105,693.
Global Market Impact:
In contrast to Bitcoin's decline, gold surged to $3,410 an ounce, up about 0.6% over the past hour, as investors flocked to traditional safe-haven assets. The precious metal's advance was further supported by a weakening dollar and anxiety over geopolitical flare-ups.
