ChainCatcher reports that, according to market sources, as the Middle East conflict impacts global stock markets and commodities, Bitcoin has defied the trend to reach a one-month high, driving a recovery in the overall crypto market. Since falling nearly 50% from its all-time high in October last year, Bitcoin has been in an oversold zone.
Following the outbreak of this round of major conflicts, traditional assets have plummeted, while Bitcoin’s relatively strong performance has reinforced its narrative as a safe haven. Market analysts believe that this rally is mainly driven by three factors: 1. The return of the “fiat devaluation” logic, as the Middle East conflict intensifies global fiscal pressure, potentially leading to more easing and deficit expansion expectations, reinforcing the “fiat devaluation” narrative, prompting some funds to reallocate into digital assets. 2. There are expectations of a possible easing of the Middle East situation; although the U.S. has not responded, this news has strengthened market expectations that the conflict may not spiral out of control long-term, supporting risk asset sentiment recovery. 3. The CLARITY Act is nearing approval, aiming to clarify the legal status of stablecoins, which is positive for the crypto market.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
US Spot Bitcoin ETFs Add $225M as BlackRock IBIT Offsets Redemptions
US spot Bitcoin ETFs posted mixed trading flows on Tuesday, reflecting a nuanced backdrop for the U.S. ETF market as investors weighed short-term liquidity against broader risk-off sentiment. Data from SoSoValue showed that overall spot BTC ETFs drew a net inflow of $225.2 million, highlighting
CryptoBreaking8m ago
Reputed Analyst Claims Fake Pump for BTC, Remains Highly Bullish for the Coming Weeks
Reputed analyst confirms fake pump for BTC.
He remains highly bullish for the coming weeks and bearish for the long-term.
He expects BTC to pump to the $78,000 – $88,000 price range before a greater dump.
The current crypto market has resulted in a surprising turn of events for
CryptoNewsLand32m ago
Bitwise funds the Bitcoin ecosystem through ETF profits, donating a total of $380,000 over two years.
Cryptocurrency asset management firm Bitwise announced that the second donation to open-source Bitcoin developers is $233,000, bringing the total donations to over $383,000. The funds come from 10% of the gross profit from BITB management fees. The donations are distributed among three organizations to ensure support for Bitcoin ecosystem development. BITB has been steadily growing in the market, with a total capital inflow of $2.2 billion, ranking third among U.S. Bitcoin spot ETFs.
MarketWhisper32m ago
Gate Research Institute: BTC has not yet decoupled from SaaS technology companies | Palantir criticizes Anthropic's safety restrictions
Cryptocurrency Overview
BTC (+7.17% | Current Price 72,443.1 USDT)
Bitcoin surged over 7% on Wednesday, driving the total market capitalization of the crypto market back above $2.5 trillion, with a daily increase of approximately 5.5%. This rebound was mainly driven by short squeeze. Previously, influenced by the Iran situation, the market experienced a concentrated sell-off, and the funding rate for Bitcoin perpetual contracts briefly dropped to extremely low levels. As geopolitical risks did not further escalate, funds that had previously taken bearish positions began to close their positions, leading to a rapid price rebound. Vetle Lunde, Head of Research at K33 Research, pointed out that Bitcoin's weekly RSI once dipped to 26.84, marking the third-lowest oversold level in history, providing technical support for the rebound.
ETH (+8.36% | Current Price 2,111.66 USDT)
On Wednesday, Ethereum
GateResearch37m ago
Analyst: Bitcoin's new rally is gaining strong momentum, driven by favorable policies and institutional demand
Analyst Owen Lau pointed out that the cryptocurrency market is experiencing a strong rally, especially with Bitcoin breaking through $73,000, related to improved U.S. regulatory environment and active institutional investors. Increased regulatory transparency attracts institutional investment, and crypto assets are gradually integrating into the mainstream financial system. Despite high market volatility, if the trend continues, it may signal the early stages of a recovery, offering long-term investment opportunities. Investors should pay attention to policy developments and capital inflows.
GateNews42m ago
