Bitcoin (BTC) has taken another hit, dropping more than 4% in the last 24 hours to land at $102.664. So, if you thought BTC was on its way to the moon, it seems to have found a speed bump, and this one’s coming straight from Tehran. Israeli forces made headlines with airstrikes on Iran, adding some fuel to the already volatile global markets.
I think it’s safe to say things are heating up. Axios was the first to report that Israel has launched operations inside Iranian airspace. Al-Jazeera confirmed the explosions in Tehran, and there’s no denying the tense vibe. Israeli President Benjamin Netanyahu didn’t mince words, stating that the strikes target Iran’s nuclear and missile programs. And, judging by his words, the action’s not stopping until the threat is eliminated. Looks like it’s going to be a long night.
Just hours before this, the International Atomic Energy Agency (IAEA) dropped a bombshell, revealing Iran’s non-compliance with Uranium enrichment restrictions for the first time in twenty years. That’s a pretty big deal, don’t you think?
Traditional Markets Respond to Global Events
As for the market? Well, let’s just say it’s reacting. U.S. stock index futures are down about 1.5%, and the same goes for European market futures. But on the flip side, bond prices, gold, and oil are seeing some upward action. The 10-year Treasury yield has dipped slightly to 4.32%, while gold has added roughly 0.75%, hitting $3,428 per ounce in the past hour. Crude oil, however, has surged a massive 9%, hitting $74 per barrel.
Meanwhile, the U.S. dollar is having a bit of a mixed bag. It's gaining against the euro and British pound but seems to be losing some ground to the yen and Swiss franc.
Is this a sign of things to come? I guess we’ll just have to watch closely and wait for more updates.
Andrew Madison
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