As global geopolitical tensions rise, the cryptocurrency market is once again on the verge of change. The escalating situation between Israel and Iran poses risks to global markets, including crypto.
Escalation of the Israel-Iran Conflict
U.S. President Donald Trump has announced efforts to prevent an all-out war between Israel and Iran. Reports indicate he is pushing for an emergency meeting with Iranian officials this week. Trump suggested that striking Iran's nuclear sites would be a turning point. In a bold statement, he urged 'everyone' to evacuate Tehran, though it remains unclear who he was referring to.
Crypto Market Reaction
The cryptocurrency market has begun to react to the latest developments. XRP led the brief rally with a 7% gain, while Bitcoin surged to $108,950 before pulling back to just above $107,000. In the past 24 hours, total liquidations reached a staggering $394.16 million, impacting leveraged positions across the market.
Outlook and Experts' Opinion
Experts are closely monitoring the situation, uncertain of which direction the market will take next. According to analysts from the Kobeissi Letter, 'we continue to believe that a peace deal is on the horizon for this conflict.' Current events have created uncertainty, and the crypto industry is watching the news closely.
Geopolitical threats continue to exert pressure on the cryptocurrency market. Investors are hopeful for a swift resolution to the conflict, though the situation remains tense.
