Global Markets React to Iran’s Drone Launch Toward Israel, Bitcoin Price Plummets
Iran’s Drone Attack on Israel Sends Global Markets Reeling, Bitcoin Price Plummets
Tensions in the Middle East have reached a boiling point as Iran has launched dozens of drones towards Israel’s airspace. The Israeli military is on high alert, expecting the drones to arrive within hours, according to reports from the Associated Press.
The news of the imminent attack has had a significant impact on global markets, with the Dow Jones seeing a more than 500-point drop in the implied open at the time of publishing. Additionally, Bitcoin, the leading cryptocurrency, experienced a sharp decline from a 24-hour high of $67,936 to as low as $61,514.
While Bitcoin has since recovered slightly to $62,785, it is still down 6.7% in the last 24 hours. Analysts like Adam Kobeissi of the Kobeissi Letter are warning that the growing tensions could lead to increased inflation, with oil prices potentially reaching $90 per barrel.
The AP reports that this attack marks the first time Iran has launched a full-scale military assault on Israel, raising concerns about the escalation of conflict in the region. The U.S., Israel’s main ally, has expressed support for Israel despite mounting casualties in the ongoing conflict with Hamas in the Gaza Strip.
As the situation continues to unfold, investors are advised to exercise caution and do their due diligence before making any high-risk investments in Bitcoin or other digital assets. The Daily Hodl will continue to provide updates on this developing story.
