Israel Strikes Tehran: Ripple Effects on the Cryptocurrency Market
In a dramatic escalation today, Israel launched an attack on Tehran, Iran’s capital, sending shockwaves through global markets, including cryptocurrencies. News of the strike broke less than an hour ago, sparking intense market volatility and immediate sell-offs.
Immediate Market Impact
Bitcoin (#BTC) reacted swiftly to the news, dropping 2% in the past hour and sinking below the $66,000 mark, reflecting a 3.3% loss over the last 24 hours. Ethereum (#ETH) followed suit, experiencing a 3% dip, now trading at $2,420. The altcoin Goatseus Maximus (GOAT), which had been gaining popularity, saw the steepest decline, plummeting 6.7% to $0.67 in just the past hour.
Overall Market Capitalization Takes a Hit
As geopolitical tensions heighten, the total cryptocurrency market capitalization has shrunk by 3.27%, now standing at $2.25 trillion. Over the last 24 hours, the market saw an outflow of $313.16 million, with the majority—$255.91 million—liquidated from long positions, while short positions accounted for another $57.24 million.
Technical Analysis: Optimism with Caution
TradingView's technical analysis indicators still show an optimistic trend, with a "buy" signal across 11 indicators. However, the oscillators, which were previously neutral, have shifted toward a “sell” stance, suggesting that heightened volatility may persist in the coming sessions.
Stay tuned for further updates as the market navigates these turbulent times.
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$BNB $USDC #CryptoPreUSElection #BTC67KRebound #APTSurpassesSUI #TeslaBTCQ3HoldingsStable
