It has been another notable week regarding the geopolitical tension between Iran and Israel/US, with significant developments influencing the cryptocurrency market.

Recall that Bitcoin was halted at $76,000 last Wednesday, following a $13,000 increase amid the initial shock from the onset of attacks in the Middle East. However, it fell back below $70,000 after the US Federal Reserve chose not to adjust interest rates but managed to retain some stability over the weekend.

On Sunday evening and into Monday morning, Bitcoin dropped to $69,000 as the effects of the weekend events reached traditional financial markets. Nevertheless, following former President Trump’s claim that the US and Iran had made advancements in negotiations, Bitcoin surged, nearing $72,000. This rally was short-lived, as the Iranian government quickly denied Trump’s statement, causing Bitcoin to retract to $69,000 shortly thereafter. Despite these fluctuations, reports surfaced confirming that some dialogues were indeed taking place between the countries, resulting in Bitcoin reaching $72,000 on Wednesday before being rejected again.

As of today, Bitcoin has fallen to $66,000, a three-week low, driven by the Royal Government of Bhutan continuing to transfer BTC, potentially for sale, alongside reports of the US preparing to deploy thousands of troops to the Middle East.

Compared to last Friday’s trading, Bitcoin has seen an almost 6% drop, while Ethereum, XRP, and Solana recorded even steeper declines. Notably, TAO and WLFI have shown some resilience with gains of 15% and 7.5%, respectively.

Market Data

Market Cap: $2.360T | 24H Vol: $112B | BTC Dominance: 56%

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• Bitcoin (BTC) Floor at $46K? Willy Woo Says Macro Risks Could Push It Lower
• Bitcoin Volatility Spikes as Trump Brags for Hitting Big Targets in Iran
• Bitcoin Treasury Companies Have Gone Quiet – Except One

Current Prices:

• BTC: $66,400 (-5.4%)
• ETH: $1,975 (-7%)
• XRP: $1.33 (-7.8%)