Last Saturday, Bitcoin and other cryptocurrencies experienced a sharp decline following news of military actions by the U.S. in Iran. This incident has raised concerns in the market.
News of the Attack on Iranian Facilities
Reports that the U.S. struck three key nuclear sites in Iran triggered a significant downturn in global markets. U.S. President Donald Trump confirmed the strikes on his social media platforms, describing them as 'successful' and warned of 'far greater' force if Iran retaliates.
Market Reaction
In the wake of the bombing reports, Bitcoin fell to $99,811, reflecting the market's immediate reaction. The total cryptocurrency market capitalization dropped by over $40 billion, reaching $3.14 trillion, marking a 2.36% decrease. Alternative currencies also experienced significant losses: Ethereum fell by 6.83%, Solana by 6.18%, and XRP by 5.73%.
Future Predictions and Expectations
Analysts predict Bitcoin may experience further declines, with $97,000 identified as a potential key support level. Some experts expect prices could drop to $93,000. Technical analyst Cas Abbe noted that 'there is a very high chance that we may see further declines' based on historical data.
The situation in the cryptocurrency market remains uncertain, and experts caution investors about potential further fluctuations. Global geopolitical events will continue to impact financial markets.
