$BTC 👉One of the founders and head of operations at RedStone, Marcin Kazmierczak, highlighted that tensions in the Middle East and sell-offs will shock the market.🎯🎯🎯
➡️He noted USD 427.84 million in long positions liquidated across Bitcoin and Ethereum (ETH) futures.
💣“Bitcoin fell by as much as 5% to USD 102,900, dropping below the important psychological level of USD 103,000. Ethereum plummeted further, down as much as 7.6% at its worst point,” said Kazmierczak in comments sent to crypto.news.
However, he emphasized that similar incidents in the past created temporary dislocations, which were often followed by price rebounds. The strike in April 2024 led to a similar sell-off, which reversed after tensions eased.
🔥“Those moments turned out to be great buying opportunities,”🔥 said Kazmierczak.
⏩“However, the current situation carries higher risks given that Israel is directly targeting Iran's nuclear program and has vowed to continue operations indefinitely,” he explained.
⏩Nonetheless, Kazmierczak believes that the escalation of conflict will hurt risk assets, including Bitcoin. The recovery, he said, will depend on how long it takes to ease tensions.
