Bitcoin is reflected above $ 107,000 after a sharp weekend slump activated by rising tensions between Israel and Iran.
According to CryptoSlate’s Data, this is the first time in four days that BTC has crossed this level and shows signs of renewed investor confidence.
The recession started after Israel had launched a surprise strike on 13 June, reportedly focused on the nuclear infrastructure of Iran and high military officers. In retaliation, Iran reacted with rocket attacks to important Israeli cities, including Tel Aviv and Haifa.
The first strike sent shock waves through the global markets and pushed Bitcoin to around $ 103,000, a low point of several weeks. More than $ 1 billion in crypto positions were liquidated during the dive, indicating a short risk-off vote for digital assets.
However, the sentiment of investors against digital assets seemed to have shifted on Monday morning in the midst of the escalating tensions.
CryptoSlate’s Data shows that all top 10 digital assets by market capitalization registered profits during the last 24 hours, with Solana leading the costs with a leap from 9% to $ 157.
Ethereum followed with a profit from 4% to more than $ 2,600, while Cardano also saw considerable profit of more than 3%.
Coinglass facts Show that around $ 280 million in positions were liquidated during the rebound. It is striking that more than half of these liquidations came from long positions, which suggests that the rapid reversal overwhelmed many traders.
Macro Sentiments prefer Bitcoin
Despite the escalating conflict in the Middle East, the upward movement of Bitcoin can be less about short-term lighting and more about changing macro-economic sentiment.
Analysts at Crypto Research Firm 10x Research to suggest Deeper macro themes can create a fruitful soil for the growth of Bitcoin. According to the company, factors such as rising oil prices, strong bond returns, mixed labor data and limited FED guidelines can flourish the best crypto.
In addition, activity in chains suggests a silent rotation of capital of altcoins in Bitcoin. These re -locations and supporting macros signals can be the scene for a stronger BTC movement later this year.
Nevertheless, 10x research stated that Bitcoin stays in a consolidation phase. According to the company, as long as the BTC remains above the level of support of $ 100,437, any withdrawals will be limited in the short term.