Bitcoin fluctuates below $108K: What’s next amid Israel-Iran tensions?
Per analyst Willy Woo, short-term BTC price action was being driven by liquidity hunt
Experts warned that an Iranian blockade of the Strait of Hormuz could trigger a global risk-off move.
The Options market showed a premium for puts, underscoring short-term bearish sentiment and hedging.
Bitcoin [BTC] pumped to $108K on the 16th of June following traders’ bullish positioning despite the Israel-Iran escalation over the weekend. However, BTC dropped to $105K as the war premium faded.
Reacting to the market volatility, Tracy Jinn, COO at crypto exchange, told that there was only one key risk factor in the war.
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