tl;dr
Bitcoin and Ethereum prices remained mostly flat following Iran’s Supreme Leader Ayatollah Ali Khamenei’s declaration of victory over the U.S. Bitcoin briefly rose above $108,000 before dropping to $107,139, down 0.2% over 24 hours and 2.2% over 30 days. Ethereum increased 0.2% to $2,439 but is down...
Iran’s Supreme Leader Ayatollah Ali Khamenei declared victory over the U.S., a statement that has reverberated through the cryptocurrency markets amid ongoing regional conflict tensions. Bitcoin experienced a brief surge above $108,000 before settling at $107,139, reflecting a 0.2% decline over 24 hours and a 2.2% drop over 30 days. Meanwhile, Ethereum inched up 0.2% to $2,439 but has fallen 6.7% over the past month, signaling mixed market reactions to the geopolitical turmoil.
The Iran-Israel conflict remains a primary catalyst behind recent Bitcoin price fluctuations. This dynamic intertwines with macroeconomic factors such as a weaker U.S. dollar, falling oil prices, renewed expectations for Federal Reserve rate cuts, and sustained inflows into cryptocurrency ETFs. Technical analysis also points to critical support levels between $100,000 and $103,000 for Bitcoin, reinforcing the coin’s resilience amid volatility.
Escalating military actions have significantly impacted the crypto market, marked by $701 million in liquidations within a single day following Israeli airstrikes on Iran and subsequent U.S. military responses. The announced ceasefire by former President Trump has since alleviated some tension, with most market participants optimistic about its short-term durability. This diplomatic development has contributed to stablizing market sentiment.
Khamenei highlighted Iran’s military strikes on U.S. bases as a demonstration of power and affirmed his continued leadership throughout the conflict. This stance resonates strongly with many observers, with a majority predicting his hold on power at least until the end of September. The strikes notably targeted Al-Udeid Air Base, underscoring the strategic significance of Iran’s military actions.
Amid the conflict, U.S. Bitcoin exchange-traded funds (ETFs) saw a resurgence in investment inflows, climbing to $547.7 million after dipping sharply earlier in June. Ethereum ETFs also recovered, reversing prior outflows to register $60.4 million in inflows. These flows reflect investors’ cautious optimism despite regional instability.
Overall, the cryptocurrency market declined by 1.6%, with Bitcoin Cash bucking the trend by gaining 3.5%, while Sei cryptocurrency suffered the steepest loss at 10.3%. As Bitcoin and Ethereum prices hovered mostly flat following Khamenei's declaration, the market remains highly sensitive to geopolitical developments, macroeconomic indicators, and technical support levels—all crucial factors for investors navigating these turbulent times.