Bitcoin falls amid rising tensions in Middle East

Iran warns "Will attack US military bases if nuclear negotiations break down" BTC drops to $108,000... Altcoins remain relatively stable Cointelegraph: "BTC safe from a long-term perspective"

Bitcoin (BTC) dropped on the 12th due to heightened tensions in the Middle East. Iran warned that it could attack all US military bases in the Middle East if the sixth nuclear negotiations with the United States break down. In response, the US government ordered partial evacuation of personnel from the US embassy in Iraq. The tensions in the Middle East overshadowed multiple positive factors that could drive asset market growth and caused market decline. Bitcoin, which briefly exceeded $110,000 on the 11th, dropped to $108,000. Altcoins also stopped rising due to capital inflows during the day and turned relatively stable. Many altcoins recorded a decline of 3-5%. ◇Bitcoin = As of 4 PM on the 12th, the Bitcoin price on Upbit is 148,320,000 won. Bitcoin dominance was 64.09%. According to on-chain analysis platform Sigbit, the long and short betting ratios in the Bitcoin futures market were 40.61% and 59.39%, respectively. Despite Bitcoin's decline, forecasts suggest that Bitcoin remains robust from a long-term perspective. Cryptocurrency media Cointelegraph analyzed that while Bitcoin holders who have held for over 155 days are realizing profits, their overall Bitcoin holdings continue to increase. This means that while some long-term holders are selling, more Bitcoin is transitioning to long-term holding, offsetting selling pressure. ◇Rising Coins = As of 4 PM on the 12th on Upbit, Ardor (ARDR) recorded the largest increase, rising by approximately 15%. Ardor (ARDR) is an open-source multi-chain BaaS (Blockchain as a Service) platform improved from the existing NXT by the Jelurida Foundation, also known as NXT 2.0. The currency unit is the Ardor token, used as the main chain token of the Ardor network for new block creation, network consensus governance, and transaction fee payments. ◇Fear and Greed Index = The digital asset Fear-Greed index provided by Alternative is 71 points, entering the 'Greed' stage. The greed stage is characterized by high price volatility and trading volume, indicating a potential price increase. Caution is advised for selling due to the high possibility of short-term peak formation. The cryptocurrency Relative Strength Index (RSI) provided by Sigbit recorded 49.4, indicating a 'neutral' state. RSI measures the relative strength between upward and downward price pressures and indicates overbought and oversold scales for a specific asset. Reporter Seung-won Kwon ksw@blockstreet.co.kr