Ethereum

Bitcoin

Impact

when

<p>Following missile attacks from <strong>Iran</strong> targeting Israel, geopolitical tensions escalated, causing a drop in <strong>cryptocurrency prices</strong> on Tuesday. <strong>Ethereum</strong> fell below $2,500, and the uncertainty in global markets pushed investors toward safer assets like bonds, the U.S. dollar, and gold.</p> 
<h2 id="analyst-weighs-in-after-iran-israel-conflict">Analyst Weighs In After Iran-Israel Conflict</h2> 
<p>Quinn Thompson, founder of Lekker Capital, commented on the market’s reaction, expressing hope for a measured response from Iran. However, the potential for escalating tensions in the Middle East remains a widespread concern among investors.</p> 
<p>Thompson stated, “Even though the likelihood of a major escalation in the Middle East is only around 20%, the market must reprice to reflect the potential risks as the outcome could be catastrophic.” He also highlighted the potential political consequences of the conflict, noting that an escalation could boost former President <strong>Donald <a href="https://www.turkishnyradio.com/bitcoin-and-eth-take-a-hit-after-second-assassination-attempt-on-trump/" target="_blank" rel="noopener">Trump’s</a></strong> chances in the upcoming U.S. presidential election.</p> 
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-20812" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/illustrating-the-impact-of-geopolitical-tensions-on-cryptocurrency-markets-On-one-side-Bitcoin-and-Ethereum-symbols-are-shown-with-r.webp" alt="illustrating the impact of geopolitical tensions on cryptocurrency markets On one side Bitcoin and Ethereum symbols are shown with r" width="1792" height="1024" title="Analyst Evaluates the Impact of Iran-Israel Tensions on Bitcoin Markets 25" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/10/illustrating-the-impact-of-geopolitical-tensions-on-cryptocurrency-markets-On-one-side-Bitcoin-and-Ethereum-symbols-are-shown-with-r.webp 1792w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/illustrating-the-impact-of-geopolitical-tensions-on-cryptocurrency-markets-On-one-side-Bitcoin-and-Ethereum-symbols-are-shown-with-r-768x439.webp 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/illustrating-the-impact-of-geopolitical-tensions-on-cryptocurrency-markets-On-one-side-Bitcoin-and-Ethereum-symbols-are-shown-with-r-1536x878.webp 1536w" sizes="(max-width: 1792px) 100vw, 1792px"></p> 
<h2 id="economic-calendar-and-market-concerns">Economic Calendar and Market Concerns</h2> 
<p>Beyond geopolitical risks, Thompson pointed out that this week’s economic calendar, culminating in a key employment report from the <strong>U.S.</strong>, is another factor causing caution in the markets. Many investors have engaged in routine hedge operations, further contributing to today’s sell-offs.</p> 
<p>The wider stock market took a hit, with <strong>Nasdaq</strong> falling by 1.5% during early trading as investors fled from risky assets. While <strong>Bitcoin</strong> is sometimes regarded as “digital gold” and a safe haven, it was not immune to the sell-off, briefly dipping below $62,000.</p> 
<h2 id="overbought-markets-vulnerable-to-bad-news">Overbought Markets Vulnerable to Bad News</h2> 
<p>Thompson explained that both crypto and stock markets were overbought due to optimism. “Many assets were highly priced based on technical indicators, making them more vulnerable to downturns when negative news hits,” he added.</p>

Analyst Evaluates the Impact of Iran-Israel Tensions on Bitcoin Markets

Table of Contents

TNYR

Other articles published on Oct 2, 2024

Cardano Launches Midnight Protocol Testnet to Boost Developer Engagement

Ethereum helped create nine economies with gross profit

Ethervista Crashes, VeChain Stumbles, but Crypto Buyers Are Betting Big on BlockDAG Here’s Why Yo...

TON Foundation Partners with Curve Finance to Launch Stablecoin Swap Project

Bitcoin and Ethereum See Fewer Active Users, Sparking Financial Concerns

Memebet Token Winning Streak Continues As Presale Roars Past $350K

Join our free newsletter for daily crypto updates!