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BTC Rejected at $106K as Middle East Attacks Intensify and Trump Threatens Iran: Weekend Watch

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Bitcoin’s price rose to over $106,000 hours ago, but the latest developments in the Middle East conflict, as well as Trump’s threats against Iran, pushed it south by over a grand.

Most larger-cap alts are slightly in the red, including HYPE, which has dumped by 5%, while PI is up by a similar percentage.

BTC Stopped at $106K

The primary cryptocurrency was riding high at the beginning of the previous business week as it pumped above $110,000 on several occasions by Wednesday. However, each attempt was met with an immediate rejection, and the last one pushed BTC south to under $106,000.

Although the bulls managed to recover some ground on Thursday and pushed bitcoin to $108,400, the quickly escalating tension in the Middle East resulted in an immediate price drop that drove the asset south to under $103,000.

Although the attacks continued in the following 48 hours, including a few retaliations by Iran, BTC’s price recovered some ground and even jumped above $106,000 hours ago.

However, US President Trump weighed in on the matter once again at that point and threatened Iran with “the full strength and might of the US Armed Forces” if Tehran decides to retaliate against the US in some form.

Bitcoin slipped once again, but it’s still hovering above $105,000. Its market cap remains below $2.1 trillion, while its dominance over the alts is at 61.7% on CG.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Alts React

Most alternative coins are slightly in the red once again on a daily scale. Ethereum is still above $2,500 after a minor decline, and similar price drops of around 1% are evident from DOGE, BNB, LINK, XRP, and SOL. HYPE has dumped the most from the larger-cap alts, having lost 5% of value.

In contrast, Pi Network’s native token has jumped 5% and now trades above $0.6 after the recent flash crash experienced on Friday.

The top 100 alts have a new member, as AB has skyrocketed by 20% and has entered the biggest crypto club.

The total crypto market cap is down by around $20 billion since yesterday to $3.380 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto

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