Bitcoin prices have plummeted following Israeli airstrikes on Tehran. The market is experiencing waves of panic and liquidations.
Market Panic Following Airstrikes
The cryptocurrency market is witnessing a sharp decline in Bitcoin prices. Late Thursday, reports emerged about Israeli airstrikes on Tehran, triggering widespread concern in the financial market. Within 90 minutes, Bitcoin dropped by 2.8%, falling from $106,042 to $103,053.
Bitcoin Declines Lead to Position Liquidations
According to CoinMarketCap, at the time of writing, Bitcoin's price had recovered to $104,900, reflecting a 2.5% decrease over the past day. The drop triggered over $427 million in long position liquidations in the last 24 hours, leaving many traders facing significant losses.
Strategic Market Recommendations
Despite the overall negativity, some experts are urging calm. For instance, Bitcoin advocate Anthony Pompliano noted that similar market reactions were observed in the past when Iran conducted rocket attacks against Israel, after which Bitcoin started to rise again. Samson Mow from Jan3 also encouraged investors to use the current conditions for buying, even if they evoke fear.
As geopolitical tensions escalate, analysts continue to monitor Bitcoin's dynamics, pointing to the potential for future recovery.
