$BTC
The Israel-Iran Conflict Shakes the Bitcoin Market Violently
The explosions that shook Tehran on Thursday at 10:50 PM UTC immediately triggered a wave of selling on the crypto markets. Israel quickly claimed responsibility for these airstrikes, targeting, according to Benjamin Netanyahu, Iran’s nuclear program.
This military escalation caught optimistic traders off guard who were betting on a continued rise towards new all-time highs.
The reaction was particularly brutal. In just 90 minutes, Bitcoin lost nearly $3,000, sliding from $106,042 to $103,053.
This 2.8% drop crushed hopes of a quick surpassing of the $111,940 record set last May. Massive liquidations reveal investors’ surprise: $427.84 million in long positions were wiped out in 24 hours, according to CoinGlass.
The contrast is striking with traditional safe-haven assets. Gold gained 1.44% while crude oil soared 11%, fully benefiting from fears of regional destabilization. This divergence raises questions about Bitcoin’s real status as a store of value in times of geopolitical crisis.
The repercussions are not limited to prices. Indeed, Ayatollah Ali Khamenei promised “severe punishment” to Israel, suggesting further tensions ahead.
Iran has already retaliated by launching more than 100 drones, fueling a worrying escalation cycle for the stability of global financial markets.