In response to escalating geopolitical tensions, Bitcoin experienced a price decline this morning, while gold saw an increase. This divergence highlights Bitcoin's correlation with risk assets during times of crisis. (Source: Decrypt)
Following reports of Israeli airstrikes on Iranian nuclear facilities late Thursday evening, Bitcoin's price plunged 3.6% to $103,900 this morning. Simultaneously, gold surged to $3,427.90 per ounce. Gold is up 7% in the past month and more than 46% year-to-date. (Source: Decrypt, Trading Economics)
Analysts note that Bitcoin often moves in line with tech stocks rather than gold, leading to opposite price trends during geopolitical crises. Altcoins, including Ethereum, XRP, and Solana, saw over $1 billion in liquidations. Traditional safe havens like gold and the U.S. dollar attracted flight-to-safety flows. (Source: Decrypt)
Sentiment has slipped over the past day, with the Crypto Fear and Greed Index down 10 points to 61, indicating greed. Over 81% of predictors on Myriad expect Bitcoin to hold below 64 through the end of the week. Galaxy Digital CEO Mike Novogratz believes that Bitcoin is becoming an institutionalized "macro asset." (Source: Decrypt, CNBC)