BTC Climbs to $102K, But Crypto Uncertainty Lingers

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Bitcoin managed to erase some of the losses but the broader cryptocurrency market remains incredibly uncertain.

The cryptocurrency market continues to experience heightened volatility, which is evident in the elevated liquidation levels across the derivatives market.

Bitcoin has reclaimed the pivotal $100K mark but the broader situation remains uncertain as the industry remains under the heavy influence of macroeconomic and geopolitical events.

Bitcoin Price Bounces to $102K
As we reported yesterday, the conflict between Israel and Iran escalated. The US joined the war and striked three strategic Irany sites, causing immediate turmoil on international markets with crypto being no exception.

In response, Iran threatened to close the Straits of Hormuz – a critical chokepoint for oil transport, which resulted in even more highly elevated oil prices.

Amid all of this, Bitcoin’s price tumbled below $100,000 for the first time since May and reached an intraday bottom at around $98,000.


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