Bitcoin (BTC) remains pinned below $105,000 since Tuesday as growing macroeconomic uncertainty and escalating geopolitical tensions seem to have taken the wind out of the flagship cryptocurrency’s sails.
Bitcoin (BTC) and the broader crypto market tumbled on Tuesday as the conflict between Israel and Iran escalated. The US, under President Trump, has also taken a hardline stance, demanding the complete disarmament of Iran’s nuclear program. Trump also threatened Iran’s supreme leader, Ayatollah Ali Khamenei.
Bitcoin (BTC) made a promising start to the week, surging to an intraday high of $108,944 on Monday. However, the worsening situation in the Middle East prompted a sharp decline as markets turned bearish. As a result, the flagship cryptocurrency dropped to $106,806.
Bitcoin (BTC) has made a positive start to the week after a sluggish weekend, reclaiming $107,000 and moving to its current level of $107,100 after an increase of 1.23%. The flagship cryptocurrency maintained its position above $105,000 despite facing selling pressure, indicating that traders are buying the dip.
Bitcoin (BTC) extended its losses for a second consecutive day, with the price down 0.52% as it struggles to stay above $105,000. The flagship cryptocurrency is currently trading at around $104,951.
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Bitcoin (BTC) fell to a low of $102,832 on Friday as escalating Middle East tensions kept the markets on tenterhooks. Rising uncertainty and tensions could also limit future rallies. The flagship cryptocurrency is down almost 1% during the ongoing session, trading around $105,103.
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