Bitcoin falls amid dark clouds in Middle East

Israel Attacks Tehran... Iranian Military Commander and Chief of Staff Killed
Geopolitical Fear in the Middle East Leads to Oil Price Surge and Asset Market Decline
BTC Drops to $103,000 in the Morning... Altcoins Fall by Over 10%

Bitcoin (BTC) experienced a sharp decline during the trading session on the 13th due to rising tensions in the Middle East.

On the 13th, the Israeli Air Force attacked several locations in Tehran, resulting in the death of Hossein Salami, the commander of the Iranian Revolutionary Guard, and Hossein Bagheri, the Iranian military chief of staff.

A virtual war between Israel and Iran seems imminent. An Israeli military source told CNN that Israel plans to launch multiple attacks against Iran.

With geopolitical fears spreading in the Middle East, oil prices rose and asset markets plummeted. The cryptocurrency market, including Bitcoin, also declined.

Bitcoin sharply dropped during the morning of the 13th, falling to $103,000 during the trading session. 'Risky assets' like altcoins continued to decline, with many cryptocurrencies recording drops of over 10%.

◇Bitcoin = At 4 PM on the 13th, the Bitcoin price on Upbit was 145,390,000 won. Bitcoin's dominance was 64.79%.

According to on-chain analysis platform Sigbit, the long and short betting ratios in the Bitcoin futures market were 52.15% and 47.85%, respectively.

With the spreading tensions in the Middle East, Bitcoin futures market investors began betting on Bitcoin's decline.

Cryptocurrency media Coin Journal reported, "The preference for Bitcoin put options is spreading due to geopolitical fears in the Middle East" and "Bitcoin's short-term outlook is becoming unstable."

◇Rising Coins = At 4 PM on the 13th on Upbit, Orbs (ORBS) recorded the largest price increase, rising by approximately 16%.

Orbs is a hybrid blockchain compatible with layer-1 chains like Ethereum (ETH) and Binance Smart Chain (BSC), providing a public blockchain infrastructure solution to help developers create apps.

Orbs tokens can be used to receive rewards through Staking on the network or to pay resource costs for app execution.

◇Fear and Greed Index = The digital asset Fear and Greed Index provided by Alternative was 61 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 Relative Strength Index (RSI) provided by Sigbit was 32.3, recording a 'neutral' state. RSI measures the relative strength between upward and downward price pressures and indicates overbought and oversold levels for a specific asset.

Reporter Seung-won Kwon ksw@blockstreet.co.kr