On Saturday night, tensions between Iran and Israel reached a boiling point as Iran launched attacks targeting Israel. The fallout was immediate in the financial markets, with Bitcoin prices plummeting more than 7% upon the news, though they later recovered slightly. By day’s end, the world’s leading digital currency closed 4.6% lower.
Israel swiftly responded, claiming to have neutralized 99% of the 300 identified threats aimed at its territory.
Iran’s military, in turn, declared the conclusion of Tehran’s operation without indicating further actions.
In response to the aggression, U.S. President Joe Biden condemned Iran’s strike, denoting it as “unprecedented,” and advocated for a unified diplomatic approach alongside G7 leaders.
These recent hostilities add to the already heightened tensions between Iran and Israel, especially since the onset of the conflict in Gaza in October. Accusations and counter-accusations have intensified, with Iran alleging an attack on its consulate in Damascus by Israel on April 1.
Given the potential for further escalation and instability in the region, investors are closely monitoring developments in this geopolitical hotspot.
Bitcoin, a barometer of market sentiment, is currently trading below the near-term support level around $64,500, with the next support situated near $60,000.
