Bitcoin Dumps 7% After Geopolitical Action, Failing as Safe Haven
Bitcoin Dumps 7% After Geopolitical Action, Failing as Safe Haven
Following military action initiated by President Donald Trump against Iran, the crypto market experienced a wave of selling, with Bitcoin (BTC) price dumping approximately 7%. This erased some of its weeklong gains, pushing BTC to trade as low as $63,000. The market reaction suggests that Bitcoin did not act as a safe-haven asset in this geopolitical event.
President Donald Trump has pulled the United States into military action against Iran, and the first consequence for crypto markets was another wave of selling rather than a rush into Bitcoin as a haven. According to CryptoSlate’s data, BTC price dumped around 7%, erasing some of its weeklong gains to trade as low as $63,000 […]
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