Bitcoin experienced a significant price dip, falling close to the $100,000 mark, as escalating tensions in the Middle East rattled global markets. The cryptocurrency dropped approximately 2.8% to a low near $103,053 following reports of an Israeli airstrike on Iran.
This sharp decline triggered substantial liquidations in the crypto derivatives market, exceeding $427 million predominantly from long positions. Concurrently, traditional perceived safe-haven assets saw gains, with gold advancing 1.44% and oil prices surging 11%.
Despite the sell-off, market analysts suggest the downturn may present a strategic buying opportunity. Anthony Pompliano highlighted Bitcoin’s historical tendency to rebound following initial geopolitical shocks, reminding investors of a similar pattern observed several months ago.
Samson Mow echoed this sentiment, advising investors to consider the dip as a chance to accumulate. His view finds a parallel in the recent actions of GameStop, which executed a significant Bitcoin purchase valued at $513 million.
Ongoing uncertainty persists as the conflict continues, with Iran issuing threats of retaliation against Israel. This geopolitical friction remains a key source of volatility, impacting both traditional and crypto-asset markets.