Recent events in the Middle East have triggered a sharp decline in the cryptocurrency market, affecting key assets like Bitcoin and Ethereum.
Geopolitical Factors and Their Impact on the Market
The escalation of the conflict between Iran and Israel has significantly increased market tension. Iran is seen using hypersonic missiles capable of reaching Tel Aviv, threatening regional security. In response, Israel has bombed Iranian state television in an effort to curb propaganda.
Current Support Levels for Bitcoin and Altcoins
Under current conditions, Bitcoin may test the psychological support level at 100,000 dollars. If breached, it could lead to a sharp decline towards the 92,000 - 95,000 dollar range. Ethereum also faces a crucial support level at 2,400 dollars, with further losses potentially taking it back to 2,200 dollars.
Prospects for the Cryptocurrency Market
With the ongoing geopolitical situation and increasing likelihood of U.S. direct involvement, investors have started to withdraw from risky assets. This raises further concerns on Wall Street and in the crypto market.
The escalation of the geopolitical situation in the Middle East has had a significant impact on the cryptocurrency market, and further developments may lead to additional price fluctuations.
