The bitcoin fell on Tuesday, down significantly from the briefly reached $70,200 on Monday morning.
By 9:50 am, bitcoin was down 0.4% over 24 hours, at $68,668, according to CoinMarketCap data.
“The bitcoin slipped this Tuesday, caught in the overall volatility of the markets as the deadline set by President Trump to Iran approaches,” commented Alexis Boeglin, director of CrypCool operations.
According to the expert, this decline demonstrates the logic governing crypto markets since the opening of the Iranian-American conflict: each de-escalation hope triggers a rebound, while each new threat brings a correction. Monday was driven by ceasefire negotiation information before markets dampened the next day.
The expiration of the American ultimatum to Iran at 8:00 pm (Washington time, 2:00 am Paris time) is the main short-term volatility catalyst in all financial markets, including cryptos.
Two scenarios differ, summarizes Alexis Boeglin. “In the absence of an agreement, American military strikes on Iranian infrastructures are considered by Trump: bitcoin could then test support zones around $63,000- $65,000 in a panic-stricken movement,” he explains.
“Conversely, any last-minute diplomatic opening could trigger a rebound towards $72,000- $74,000, even more if accompanied by a reopening of the Strait of Hormuz and a fall in oil prices.”
While prediction markets give less than 2% chance of a formal agreement by tonight, a positive surprise, if it happens, would only be more violent in its increase, notes the CrypCool operations director.
In other crypto news, Morgan Stanley is set to launch its own exchange-traded fund (ETF) invested directly in bitcoins. “This will be the first bitcoin spot ETF launched directly by a major Wall Street bank,” recalls Alexis Boeglin.
– BITCOIN: At around 9:50 am, the queen of cryptocurrencies was down 0.4% over 24 hours, at $68,668, according to CoinMarketCap data. – ETHER: -1.4% over 24 hours, at $2,103. – XRP: -2.1% over 24 hours, at $1.31. – BNB: Binance’s crypto was down 0.7% over 24 hours, at $598.6. – SOLANA: -2.4% over 24 hours, at $79.30.
Context: Bitcoin’s price fluctuation due to geopolitical tensions related to Iran and potential military actions by the US. Fact Check: The information about Morgan Stanley launching its own bitcoin ETF is accurate, reflecting growing institutional interest in cryptocurrencies.
