Bitcoin has experienced significant fluctuations amid escalating Middle East tensions and threats from the US president. Let's explore the causes and consequences.
Bitcoin Price and News Background
Bitcoin reached $106,000 but subsequently fell due to the escalating situation in the Middle East and US President Donald Trump's statements regarding Iran. Initially, Bitcoin showed a rise, even hitting $110,000, but this movement was met with immediate rejection. As conflicts continue to escalate, Bitcoin dropped below $103,000 but later rebounded above $106,000, only to drop again due to negative news.
Alternative Cryptocurrencies React
Many alternative cryptocurrencies have also come under pressure, experiencing slight losses. Ethereum remains above $2,500, while DOGE, BNB, LINK, XRP, and SOL have dropped around 1%. In contrast, Pi Network's token gained 5%, trading above $0.6 after a recent steep decline. A new member in the top 100 cryptocurrencies is AB, which surged by 20%.
Current Situation in the Cryptocurrency Market
The total cryptocurrency market cap has decreased by about $20 billion to $3.38 trillion. Despite some fluctuations, Bitcoin maintains its dominant position at 61.7% among alternative currencies.
The price of Bitcoin and other cryptocurrencies continues to be under pressure due to global news and geopolitical threats. The market anticipates further developments.