Global markets, including the volatile cryptocurrency sector, faced immediate scrutiny today following unconfirmed reports that Iran launched six missiles at US bases in Qatar.
The news, shared by BRICS News on X at 16:39 UTC, prompted close observation of Bitcoin’s immediate price action.
Continuing into the moments after the BRICS News report, Bitcoin (BTC) experienced a sharp downturn. According to a BTC/USD chart tracking prices up to 16:45 UTC, Bitcoin’s value began a notable decline around 16:00 UTC responding to the news about possible attack, falling from over $101,800 to dip below $99,800 by approximately 16:30 UTC.
This pre-news dip suggests broader market anxieties or other influencing factors were already at play.
However, in the minutes immediately surrounding the reported missile launch and the subsequent news dissemination, Bitcoin’s price showed signs of stabilization and a nascent recovery. The chart indicates that by 16:45 UTC, just after the tweet, Bitcoin had begun to rebound from its lows, trading back towards the $100,800 mark.
This swift partial recovery suggests that while initial market reactions to geopolitical tensions can be sharp, the cryptocurrency market may also demonstrate a quick capacity to absorb and move past such events, or that other underlying bullish factors quickly reasserted themselves.
The incident highlights Bitcoin’s increasing sensitivity to global geopolitical developments, even as the market demonstrates varied responses to breaking news.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/iran-attacked-us-bases-in-qatar-what-was-bitcoins-first-response/