Crypto Markets Nosedive as Geopolitical Storm Clouds Gather – Buy the Dip or Brace for Impact?
Crypto's bleeding again – and this time it's got geopolitical shrapnel in the wounds. Here's why traders are scrambling.
War drums rattle, markets panic
Another weekend, another cascade of liquidations as Bitcoin flirts with key support levels. No surprises here – when nation-states start sabre-rattling, risk assets always take the first hit. (Though let's be honest, most 'geopolitical analysts' in crypto are just guys reposting Bloomberg headlines with rocket emojis.)
The silver lining?
Volatility means opportunity. While paper-handed retail flees to stablecoins, the OGs know this dance by now. Every macro dip since 2020 eventually became a buying opportunity – assuming you've got the stomach for 30% swings before breakfast.
Closing thought: Nothing makes 'digital gold' narratives crumble faster than old-fashioned artillery fire. Maybe DeFi degens should start tracking missile stockpiles alongside TVL metrics.
The uncertainty led by the rising geopolitical tensions amid the war between Iran and Israel is influencing the crypto market. In this respect, the total crypto market capitalization has reached $3.15T after a 1.48% dip. Additionally, the twenty-four-hour crypto volume stands at $108.67B following a 5.14% dip. At the same time, the crypto Fear & Greed index accounts for 40 points, indicating a neutral position.
Bitcoin and Ethereum Witness 0.53% and 5.43% Dips
The top crypto asset, Bitcoin ($BTC), has gone through a minor dip of 0.53% as its price has reached $102,849.36. In addition to this, its market dominance is 64.8% at present. Along with that, the flagship altcoin, ethereum ($ETH), displays a 5.43% decline, with its price touching the $2,291.59 mark. Concurrently, Ethereum’s market dominance is approximately 8.8%.
$CATX, $FTW, and $BPX Lead Top Crypto Gainers
Simultaneously, CATX ($CATX), Black Agnus ($FTW), and Black Phoenix ($BPX) are the top names among the crypto gainers. Thus, $CATX is changing hands at $0.000007212 after a 2360.77% price rise. After that, $FTW has recorded a 2146.91% upsurge to reach $0.00000009150. Subsequently, $BPX is trading at $2.26, denoting a 1429.77% price increase.
DeFi TVL Plunges by 3.02% and NFT Sales Volume Drops by 0.08%
The decentralized finance (DeFi) sector also presents an analogous outlook with a 3.02% dip as its TVL has reached $106.162B. Keeping this in view, the top DeFi project, AAVE, has witnessed a 4.27% decline that has pushed its TVL down to $23.659B.
In the same vein, the non-fungible token (NFT) market is also 0.08% down as the sales volume now stands at $13,814,530. Specifically, SXY has taken the top position among the top-selling NFT collections, with its sales accounting for $6,602,254.
France Plans Strategic $BTC Reserve While Norway Imposes Restrictions on Bitcoin Mining
Overall, while the Iran-Israel conflict is taking an aggressive turn with the U.S. airstrikes, many other developments are also impacting the crypto world. In this respect, France is planning a strategic Bitcoin ($BTC) reserve in partnership with Jan3.
Moreover, Norway has imposed restrictions on bitcoin ($BTC) mining. Furthermore, Jaz Gulati (Garden Finance’s Founder) has denied blockchain investigator ZachXBT’s accusations concerning potential involvement in Bybit attack and other illegal activities.
