Bitcoin Trading Volume Surges Nearly 100% Amid Ongoing Conflict
Bitcoin has rebounded amid geopolitical tensions from Israel's attack on Iran, recovering from recent losses. Key developments include:
- Bitcoin's price increased from last week's lows.
- Daily trading volume surged to over $88 billion, nearly doubling since the start of the week.
- The price fluctuated between $105,000 and $108,000, indicating high volatility.
- Open interest for Bitcoin is near all-time highs at $71 billion, approaching May 2025's $80 billion record.
- Bitcoin's market dominance remains above 64%, indicating investor focus on this asset while altcoins lag.
Despite ongoing conflict in the Middle East, expectations lean towards a resolution rather than escalation into wider war. The Kobeissi Letter noted that markets are currently pricing in low chances of a World War 3 scenario, which would otherwise significantly impact stock and cryptocurrency markets.
