Bitcoin showed growth at the beginning of trading on Monday amid new threats from US President Donald Trump regarding strikes on Iran. Investors are reacting to mixed market signals, where geopolitical tensions are combined with a renewed demand for crypto assets, Bloomberg reports, writes UNN.
Details
As of Monday morning in Asia, Bitcoin rose 2.8% and traded around $69,200, while Ether added 3.7%. At the same time, S&P 500 futures also showed moderate growth.
Several factors influenced the market at once. On the one hand, the escalation of the situation around Iran creates uncertainty for traditional assets. On the other hand, Bitcoin receives support from stable demand and an inflow of funds into exchange-traded funds.
Bitcoin's rally appears to be driven by stable spot demand, and ETF flows remain steady
According to Coinglass, almost $196 million in bets on falling cryptocurrencies were liquidated over the past day, which also supported the growth.
Geopolitics puts pressure on markets
Earlier, Donald Trump stated that the US could strike Iran's infrastructure if it did not open the Strait of Hormuz. He also threatened that the country would face "hell" if it refused.
Trump gave Iran until Tuesday evening to open the Strait of Hormuz05.04.26, 20:41
Despite this, Bitcoin has remained relatively stable in the range of $65-75 thousand in recent weeks, although it lost a significant part of its value in the fall after falling from peak values.
Analysts note that further dynamics will depend on the preservation of demand and the level of support, which is currently estimated at $65-66 thousand.
Gold price falls amid new Trump threats to Iran06.04.26, 06:35