As military tensions in the Middle East escalate again, causing global investor anxiety, the cryptocurrency market quickly recovered beyond expectations. Bitcoin (BTC) temporarily dropped over $2,000 but quickly rebounded, recovering the $107,000 level. The total cryptocurrency market capitalization, which had momentarily evaporated by around $80 billion, is showing signs of recovery.
This sharp decline occurred when US President Trump urged a complete withdrawal from Tehran. With missile exchanges between Israel and Iran continuing for the fourth day, Trump strongly warned on his social media, "Iran should have signed my deal" and "immediately withdraw from Tehran". He left Canada early during the G7 summit, stating that "there is a clear reason to return".
Not only the US, but China and Russia are also strengthening diplomatic and military pressure by recommending their citizens withdraw from Tel Aviv. White House spokesperson Alex Piper stated, "US military is maintaining a defensive posture, but will definitely protect US interests", dismissing air strike rumors as 'fake news'.
Meanwhile, the blockchain-based prediction market Polymarket reflected escalating tensions, with the probability of US military action against Iran this month rising to 67%.
However, the impact of these geographical tensions on the market was surprisingly minimal. The cryptocurrency market had experienced a deeper adjustment on the 6th due to alleged conflicts between Trump and Elon Musk. Risk assets also showed relatively stable movements, with the S&P500 index declining only 2% from its all-time high, resulting in limited impact.
Market analysts suggest that cryptocurrencies are gradually developing 'immunity' to geopolitical risks. Bitcoin continues trading within the box range since early May, while Ethereum (ETH) rebounded at the $2,500 support line. Overall, the cryptocurrency market is demonstrating strong resilience to sudden external variables.
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