The $2,000 overnight Bitcoin drop sparked a strong response from the White House. Amid rising Middle East tensions and Trump's interventions, the crypto market is experiencing significant turbulence.
The Bitcoin price experienced a significant drop of $2,000 last night as tensions in the Middle East continue to escalate. In response to this situation, American President Donald Trump even abruptly left a G7 summit to demand a National Security Council meeting at the White House.
In a post on Truth Social, Trump stated, “Iran should have signed the deal I asked them to. What a shame and waste of human lives. In a word : IRAN MUST NOT HAVE NUCLEAR WEAPONS. I have always said it ! Everyone should evacuate Tehran immediately !”
These remarks suggest that new Israeli strikes against Iran are imminent. This is likely the reason Trump is urgently calling for the evacuation of the Iranian capital.
Despite the tense situation, Bitcoin has managed to bounce back, even showing a rise of 0.91% compared to the previous day, reaching $107,278. Therefore, the cryptocurrency seems to be holding up well against geopolitical disturbances.
Indeed, the reactions in the crypto market remain relatively moderate, with no major price movements challenging the upward trend of Bitcoin. This stability is particularly explained by the fact that the Middle East represents only a small part of the global economy.
“They mainly produce oil, which can be relevant for oil prices. Still, this should not trigger widespread panic in the financial markets,” analyzed a crypto expert.
Thus, despite geopolitical turbulence, Bitcoin seems fairly unaffected at the moment and maintains its positive momentum. The evolution of the situation in the coming days remains to be seen.
This drop comes as Bitcoin broke its protected high at $108,470, indicating that Bitcoin is resuming a short-term bullish structure. In this context, as long as BTC stays above $102,800, the trend remains bullish. A drop below could lead it to $100 or $98,000.
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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