BTC Crashes to $66K, ETH Dips Below $2K as Middle East War Drags On: Weekly Recap

It was another eventful week on the Iran – Israel/US front, with multiple big developments, including some twists and turns, that continue to influence the risk-on crypto market. Recall that bitcoin was stopped at $76,000 last Wednesday after it had gained $13,000 since the initial shock when the first strikes in the Middle East began.

Key takeaways

Quick scan — what you need to know:

• It was another eventful week on the Iran – Israel/US front, with multiple big developments, including some twists and turns, that continue to influence the risk-on crypto market.
• Recall that bitcoin was stopped at $76,000 last Wednesday after it had gained $13,000 since the initial shock when the first strikes in the Middle East began.
• It slipped to and below $70,000 in the following days as the US Fed refused to change the interest rates, but managed to maintain that level during the weekend.
• Then, it dipped to $69,000 on Sunday evening and Monday morning when the impact of the weekend developments reached the legacy financial markets.

Background

What led here, in plain terms:

• However, once Trump claimed that the US and Iran have made significant progress in their negotiation talks, BTC exploded by several grand to just under $72,000.
• Unfortunately, it retraced to $69,000 hours later as Iran denied his statement.
• Nevertheless, more information emerged that both countries have indeed carried out some sort of talks, and BTC tapped $72,000 on Wednesday.
• It was rejected once again there, and even though it maintained $69,000 and $70,000 by yesterday, it crumbled below both these levels today, dropping to a three-week low of just over $66,000 as of…

Why it matters

Why readers and decision-makers should care:

• It spent $76.6 million to acquire an additional 1,031 BTC, and its total stash has grown to over 762,000 units.
• Charts This week, we have a chart analysis of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid – click here for the complete price analysis.
• The post BTC Crashes to $66K, ETH Dips Below $2K as Middle East War Drags On: Weekly Recap appeared first on CryptoPotato.