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Bitcoin Price Reacts as Iran Strikes Israel and Trump Weighs In on a Peace Deal

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The tension in the Middle East escalated once again on Sunday evening as Israel attacked sites in Lebanon that contained Hezbollah structures and personnel, and Iran responded with warning strikes of its own.

US President Donald Trump said he was briefed on the matter and urged Iran to return to the negotiating table after it fired its shots.

The attacks began earlier today when Israel hit south Beirut, killing two people and injuring at least 20, all of whom its officials claimed to be related to Iran-backed Hezbollah. According to Israel’s Benjamin Netanyahu, these attacks were a response to previous strikes from the group against his country.

Iran’s Islamic Revolutionary Guard Corps (IRGC) retaliated against Israel, saying that its strikes “served as warnings.” It urged Israel to stop the attacks, or a new, broader wave will follow.

After noting that he was briefed on the attacks, the POTUS said he was “not happy” with Israel. Moreover, he added that the attacks carried out by the Netanyahu-led country were not coordinated with the US. He also urged Iran to return to the negotiating table after its retaliation.

Trump previously said that a permanent peace deal was almost complete and he expected it to be announced at the start of the new business week.

In the latest development on the matter as of press time, the POTUS said he will call Israel’s PM to urge him not to strike back.

Bitcoin’s price reacted immediately to the attacks but in a rather dull manner. It dropped from over $62,000 to $61,200 before it rebounded and now sits close to its starting point.

On a broader scale, though, the asset has plunged by $20,000 since its mid-May peak at $82,000, and analysts believe the next leg up could come after the war in the Middle East ends.

BTCUSD June 7. Source: TradingView
BTCUSD June 7. Source: TradingView

 

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