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Bitcoin Recovers Above $100K Amid Geopolitical Tensions

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by Giorgi Kostiuk

2 months ago


Following a recent dip below $98.5K, the price of Bitcoin has started to rise again. Geopolitical events, including conflicts with Iran, significantly impact the market.

Bitcoin Market Reacts to Geopolitical Situation

Recent US strikes on Iranian nuclear facilities have drawn the attention of traders, leading Bitcoin's price to drop to $98.2K. Market activity has slowed, but bullish sentiment remains palpable.

Expert Opinions on Bitcoin's Future

BitMEX co-founder Arthur Hayes remains optimistic, stating, "Do you hear that? ... it’s the sound of the money printers revving up to do their patriotic duty." Additionally, Galaxy Digital CEO Mike Novogratz believes Iran won't be able to mount a strong counterattack, providing hope for Bitcoin price recovery.

Current Metrics and Trader Interest

As of now, Bitcoin is trading at $101,225, up 2% from the intraday low. Trading volume has increased by nearly 40% over the past 24 hours, indicating rising trader interest in the asset. The 24-hour low and high are $98,286 and $102,991 respectively.

Geopolitical factors continue to impact the Bitcoin market; however, experts express hope for price recovery, affirming bullish sentiment among traders.

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