The escalation of the conflict between Israel and Iran has significantly affected cryptocurrency prices, particularly Bitcoin, which has dropped by 5%.
Impact of Israeli Airstrikes on Bitcoin
Israeli airstrikes on Iranian nuclear and missile facilities led to a drop in Bitcoin prices to $103,000, which surprised many investors. Israeli Prime Minister Benjamin Netanyahu stated, "The overnight attack was aimed at rolling back Iran's nuclear program and missile capabilities." This circumstance prompted observers to reconsider Bitcoin's role as a safe asset.
Traditional Asset Market Amid Instability
While Bitcoin experienced a decline, traditional safe havens such as gold and oil saw price increases. This reflects investors' reliance on time-tested safe assets in the face of geopolitical instability. Currently, the cryptocurrency market, according to the Corindesk 20 index, also saw a decline of over 6%.
Historical Responses of Bitcoin to Conflicts
Analysis of the past shows that previous geopolitical tensions, such as the incidents in October 2024, also led to fluctuations in Bitcoin prices. Historical data demonstrates that initial sell-offs often lead to rebounds, but Bitcoin's current status as a safe haven remains debated. It can be noted that after the attack, Bitcoin's price dropped by $5,000 before slightly recovering.
Geopolitical events will continue to impact financial markets, including the prices of digital currencies, highlighting Bitcoin's unstable nature as a safe asset.
