Bitcoin Could Fall as Market Braces for Spread of Israeli-Hamas War

The effects of the war in the Middle East could spill over to the crypto markets and cause a short-term decline in riskier assets such as bitcoin , several traders who spoke to CoinDesk opined.

Futures traders betting on higher prices saw over $100 million in liquidations over a 24-hour period from Monday, as alternative currencies saw a sell-off. However, crypto markets are showing signs of early resilience that may instill confidence among bulls. In early 2022, military tensions between Russia and Ukraine saw bitcoin shed as much as 7% in a single day, displaying the significance and impact of geopolitical struggles on the niche asset class. At such times, typically, investors tend to flee to gold, while assets deemed riskier tend to see declines.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gem's third-quarter output rises, but sales fall on market challengesLondon-listed Gem Diamonds achieved an 18% quarter-on-quarter increase in production for the quarter ended September 30, with 26 913 ct recovered. The company, which owns and operates the Letšeng mine, in Lesotho, noted in a trading update for the quarter that the rough diamond market had experienced a downturn this year.
Source: MiningWeeklyAUS - 🏆 233. / 63 Read more »

Raging Bitcoin Bull Market Ahead, According to Key IndicatorOmkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
Source: CoinDesk - 🏆 291. / 63 Read more »