The crypto market he’s doing the unexpected this weekend: nothing. Even in the third round The US is attacking Iran and Tehran announced that the Strait of Hormuz was closed, $BTC did not fall. Here is a breakdown of crypto news today and reason the price of bitcoin it is ending a major geopolitical shock.
What is Bitcoin Price Today?
The btc price today it is around $63,900, down about 0.3% in 24 hours but up about 2% for the week. $ETH trades around $1,803, $XRP around $1.09, $SOL around $76.60, and $DOGE around $0.073. The total market cap is around $2.28T. With the oil, stock and bond markets closed for the weekend, bitcoin is one of the few assets to see recent gains in real-time prices, with bearish action expected when trading resumes on Monday.
What Just Happened Between the US and Iran?
The increase began on July 7, when the US Central Command said that the US military destroyed 80 targets in Iran in retaliation for the attack on merchant ships near the Strait of Hormuz, and the US reimposed sanctions on Iran’s oil trade. As of July 8, President Trump said that the memorandum of understanding and cessation of hostilities with Iran “is over, as far as I know.” At the end of the week, the conflict escalated: Iran’s Islamic Revolutionary Guard Corps closed the Strait of Hormuz after firing a warning shot at a vessel using an illegal channel – a major move, given that the strait is one of the most important sources of oil in the world.
How Did the Crypto Market React to the US-Iran Strike?
Crypto’s first move was a disaster in the books. When Trump announced the end of the war, the price of bitcoin fell by 2.5% and altcoins lost a lot, and about $ 450 million in positions were removed. Altcoins took a big hit, with $350 million of the $450 million in total withdrawals coming from altcoin groups. But by July 9 the mood changed: Bitcoin rose 1.2% to $ 63,000, ether added 0.75% and the future of the Nasdaq 100 benefited from the markets not disturbed by the US planes on the 90 war targets of Iran.
Why Is Bitcoin Ignoring Geopolitical Threats?
The biggest change is how traders now create a dispute. According to market analysisinvestors have stopped framing Middle East inflation as a crypto-specific event and are starting to frame prices as a price event – the real concern is that high oil prices will cause inflation and keep interest rates high. As a result, bitcoin now follows the forward-looking Treasury yield more than traditional hedges such as crude or gold. Of course, gold has fallen even as tensions rise, signaling a potential shift toward Bitcoin as a non-price commodity.
What Should Crypto Traders Watch Next?
Entrepreneurs are organized at the level of $60,000. A further upward trend would reinforce the idea of ”Bitcoin as a commodity”, while a sharp decline would indicate that the stability is temporary. The sentiment is over — the Fear and Greed Index recently came out of the most dangerous territory it’s been in for 40 straight days — but that sounds more like relief than conviction. The main risk is the opening of oil on Monday, when crude recovers the closure of Hormuz at the end of the week and can send new waves. crypto market today.
