Bitcoin shaken by Trump’s remarks… WBT surges 30% amid Middle East tensions
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As tensions rise in the Middle East region, volatility is increasing across the cryptocurrency market. Bitcoin (BTC) surged over the weekend, reaching $109,000 (approximately 151.51 million won), but after Trump's directive for immediate withdrawal from Tehran, it dropped below $106,400 (approximately 147.93 million won). Currently, it has partially recovered and is trading around $107,000 (approximately 148.73 million won).
Bitcoin's ups and downs are closely linked to geopolitical risks in the Middle East. With Israel's initial military actions and Iran's subsequent retaliation, uncertainty expanded in the cryptocurrency market. BTC dropped to $103,000 (approximately 143.17 million won) over the weekend before gradually recovering, but its sensitive reaction to Trump's statements suggests the market sentiment remains tense.
On this day, most major altcoins also showed a downward trend. The meme coin 'Hype (HYPE)', which set a new record the previous day, fell by over 5%, and Pepe (PEPE), Pi Coin (PI), TAO, ONDO, Internet Computer (ICP), Kaspa (KAS) also experienced sharp declines. Major coins like Ethereum (ETH), Solana (SOL), Avalanche (AVAX), Cardano (ADA), Dogecoin (DOGE), and Chainlink (LINK) generally showed weakness. In contrast, XRP, Binance Coin (BNB), TRON (TRX), and Bitcoin Cash (BCH) slightly rose and performed relatively well.
Amid this, WhiteBit Coin (WBT) was notably moving. WBT surged 30% in the past 24 hours, breaking through $50 (approximately 69,500 won), continuing its independent upward trend. Even in a downturn, WBT demonstrated strong upward momentum, drawing investors' attention.
The total cryptocurrency market capitalization evaporated by about $40 billion (approximately 55.6 trillion won) in a day, decreasing to $34.4 billion (approximately 4,783.6 trillion won). Meanwhile, Bitcoin's market share slightly increased to 61.6%, reaffirming its position as "digital gold".
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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