Bitcoin (BTC) is showing signs of recovery during the European trading session on Monday, climbing above $107,000 after a slight correction last week. Despite the signs of mild recovery in price action, the market sentiment remains cautious as the Israel-Iran conflict enters its fourth day after fresh strikes over the weekend. Despite the geopolitical headwinds, institutional interest in Bitcoin remains robust, as Metaplanet added 1,100 BTC to its holdings while spot Bitcoin Exchange Traded Funds (ETFs) recorded a total inflow of $1.37 billion last week.
“Market believes a peace deal” – The Kobeissi Letter
Bitcoin price faced a sharp correction on Thursday and marked a low at 102,664 on Friday as the Israel-Iran conflict escalated. However, BTC recovered initial losses and closed the day positively around the $106,000 level. Early on Friday morning, Israel launched airstrikes against Iran’s nuclear program and military targets. In response to this attack, Iran launched a new barrage of missiles and drones at Israel on Sunday evening. The strikes between Israel and Iran continue into Monday, escalating the tensions.
