When the black swan flaps its wings, Bitcoin has to drop below $100,000! Iran's 'revenge' has become the sword of Damocles hanging over the crypto world.
The likelihood of Iran retaliating against the US is estimated to have been speculated in the market at 66%! This is no small matter, directly causing Bitcoin to drop below $100,000 for the first time in over a month, hovering around $99,666. Just think about it, last month it was making a glorious push towards $110,000!
Why is the drop so severe?
It’s an explosion of panic!
The US just bombed Iran's nuclear facilities.
The US is on high alert, with major cities in a state of heightened security; intelligence reports say Iran is about to take action.
The Iranian parliament is even more ruthless, voting to close the global oil artery—the Strait of Hormuz! If this really happens, global oil prices will skyrocket, the economy will tremble, and risk assets will be the first to bear the brunt!
The market is filled with wails:
Ethereum plummeted over 9% in just one day!
Ripple (XRP) and Binance Coin also couldn’t hold up, dropping by 4-8%.
Dogecoin (DOGE) and Cardano (ADA) are in even worse shape, with declines heading towards double digits!
The entire market is in the red, causing panic. Even the 'dead bull' MicroStrategy's Saylor, who said he would continue to buy, couldn't withstand the panic selling temporarily. The bears are taking the opportunity to increase their positions, calling for a big drop.
To be honest, this drop is really frustrating! After finally stabilizing at $100,000, it got knocked down by geopolitical issues. The situation in Iran is like a ticking time bomb; as long as it remains quiet, the market won't be at ease. But on the flip side, this panic sell-off might mean opportunity for those who have been waiting to get in. Those with a strong heart and long vision might already be secretly counting their chips.
Will Iran's 'revenge script' actually unfold? If it does, will the market crash or bounce back? Can Bitcoin quickly regain the $100,000 threshold? This performance will definitely affect the upcoming market trends!
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