Bitcoin (BTC) price declined over 6% this week until Friday as the escalation of the conflict between Iran and Israel added fuel to this sell-off.
Bitcoin price declined over 6% this week until Friday after the rejection of a key resistance barrier. Rising tensions between Iran and Israel weighed on risk assets, fueling BTC’s price decline. US spot Bitcoin ETF s posted $288.4 million in outflows until Thursday, indicating a fall in institutional demand. Bitcoin price declined over 6% this week until Friday as the escalation of the conflict between Iran and Israel added fuel to this sell-off.
In the long term, however, BTC has shown more resilience than Gold, the data shows. The table below shows that, through major geopolitical events, Bitcoin’s 10-day return and 60-day return have generally performed better than Gold and the US S&P 500 equity index. Major assets chart during geopolitical events. Source: BlackRock On Thursday, the sell-off steam slightly cooled down. Bitcoin traded in a range, with no signs of institutional demand, as the ETF still registered an outflow of $54.
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