Bitcoin’s price has crashed below $100,000 for the first time since May 25th, charting a decline of around 4% in the past 24 hours alone. The cryptocurrency is down 5.5% throughout the last seven days.
The market downturn has also caused a broader selloff amongst altcoins, most of which are deep in the red, resulting in almost $1 billion worth of liquidated positions, according to CoinGlass.
As CryptoPotato reported earlier today, the US joined the war between Israel and Iran, striking three strategic nuclear Irany sites.
In response, some media reports indicate that the Iranian Parliament has voted in support of closing the Strait of Hormuz – one of the world’s most criticial oil transit chokepoints.
This resulted in immediate increase in oil prices, which are up almost 1% on the day, sparking international fears of inflation and economic turmoil. Traders are seemingly derisking and it’s interesting to see how deep this correction will extend.
The post Bitcoin Price Crashes Below $100K as Iran Votes to Close Strait of Hormuz appeared first on CryptoPotato.
This articles is written by : Fady Askharoun Samy Askharoun
All Rights Reserved to Amznusa www.amznusa.com
Why Amznusa?
AMZNUSA is a dynamic website that focuses on three primary categories: Technology, e-commerce and cryptocurrency news. It provides users with the latest updates and insights into online retail trends and the rapidly evolving world of digital currencies, helping visitors stay informed about both markets.
