Crypto: Bitcoin Traders Eye Iran Reactions As Oil Sparks Us 5% Inflation...
Bitcoin avoided a fresh breakdown around major geopolitical events in the Middle East, with BTC price targets now including $74,000 next.
Bitcoin (BTC) ignored geopolitical volatility on Sunday as traders waited for markets’ Iran reaction.
Bitcoin coils around $67,000 as the dust settles on a wild weekend in the Middle East.
TradFi market reactions are in focus, with BTC price action avoiding major volatility.
Oil price concerns compound as Iran seeks to close the Strait of Hormuz.
Data from TradingView showed BTC price action focusing on $67,000 in the aftermath of the latest round of conflict in the Middle East.
The weekend prevented TradFi markets from adjusting to events in real time, with US stock market futures down 0.65% at the time of writing.
Crypto also saw volatility, but soon cooled, and BTC/USD avoided a major breakout from its local trading range.
Commenting, crypto trader, analyst and entrepreneur Michaël van de Poppe described the initial response as “positive.”
“Now, markets are correcting back down, as there's uncertainty on how US markets will open tomorrow (and there's still an outstanding gap of the CME),” he wrote in a post on X.
Source: CoinTelegraph
