💡 Why did the currency drop after the Israeli strike on Iran?
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1 Rush to "safe assets" After the Israeli bombing of Iranian sites, we witnessed a migration of investors towards traditional safe assets like the dollar, yen, and gold. These movements prompted outflows from high-risk markets like cryptocurrencies.
2 Bitcoin decline surpasses the $103,000 level The currency reached a low today of ~ $103,000, before partially recovering above $105,000.
3 Bitcoin is not behaving like "digital gold" in this context Some analysts like Peter Schiff observed that Bitcoin has lost its status as a safe haven, especially as gold rose today (+1–1.3%) while the digital currency fell by 2–4%.
In summary: The Israeli strike on Iran created a state of "demand for safe havens," leading to a collective sell-off in cryptocurrencies including Bitcoin. Despite a slight recovery, it still suffers from the effects of geopolitical tensions, proving once again that it is not a safe haven like gold.
Would you like a deeper technical analysis or future forecasts? I am ready! 😊