Bitcoin It fell to the lowest level from May at the weekend, because the growing tensions in the Middle East and the renovated inflationary fears caused a sharp sale in digital assets.
Bitcoin dropped below USD 99,000 on Sunday – the lowest point in over a month – and Ether was at one point by over 10% lower, because the digital assets market was the first to react to escalating geopolitical risk. SaltIN XRPAND Dogecoin He also published sharp losses, pulling the entire cryptographic complex deep in red.
Digital assets began to regain the land at the end of Sunday, and Bitcoins trade only USD 101,000, only 1% in the last 24 hours, and ether fell by 2.5% to around USD 2,200.
The sale seems to be a combination of geopolitical shock and macroeconomic care.
Apparently, Iran threatened to block the Hormuz Strait – the necessary shipping belt, which deals with about 20% of global oil supply. Jpmorgan warns that full closure can increase oil prices so high USD 130 per barrel.
One of the most important research companies That such a jump can restore us inflation to 5% – the level not visible from March 2023, when the Fed still actively raises the rates.
This perspective has traders who again evaluate the path of interest rates – and turning from speculative assets such as Crypto.
While Bitcoin is often distributed as an inflationary hedge, he is currently more behaving like high -bet technology. According to the Crypto Kaiko data providerBitcoin's correlation with heavy NASDAQ technology has increased rapidly in recent weeks, after reaching a low level of several months at the beginning of this year-speed, which coincided with the rapid influx of ETF Bitcoin.
It seems that institutional positioning has also changed.
Over $ 1.04 billion was affected by ETF Bitcoin from Monday to Wednesday last week, According to the data from Coumingss. But these influence fell on the weekend, on Thursday with zero net movement and only $ 6.4 million on Friday – he coincided with the president Donald Trump early G7 Departure and advertisement Two -week review of us options on Iran.
The technical division added fuel to selling out.
Kinglas Studies show a fall in Bitcoin below $ 99,000, triggered forced sales on platforms of offshore derivative instruments, such as Binance and Bybit. At the summit on Sunday, over $ 1 billion in cryptocurrency positions was liquidated during a 24-hour period of over 95% comes from long factories, emphasizing how it excessively exposed the market at the weekend.
