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Bitcoin plunges amid Middle East tensions as investors brace for an extended crypto selloff. Bitcoin faced a steep decline amid broader cryptocurrency market woes, attributed to escalating tensions in the Middle East. Iran’s retaliation against Israel, sparked by a strike in Syria that claimed Iranian military lives, intensified regional conflict. Investors monitored digital asset markets over the weekend, anticipating Monday’s trading.
Bitcoin slump on Iran attack flashes warning for global markets#Israel #Iranians #Iranian #Bitcoin #IranAttackIsraelhttps://t.co/blsrLbJFWI
— JAY (@jaycibby) April 14, 2024
Zaheer Ebtikar of Split Capital cautioned that further conflict escalation could extend the crypto selloff, highlighting Monday’s market importance. As Israel braced for potential attacks, traditional markets weakened, driving investors towards safer havens like bonds and the dollar. Coinglass data revealed a significant liquidation of approximately $1.5 billion in bullish crypto derivatives positions over Friday and Saturday, marking one of the largest such events in the past six months.
Key Bitcoin Levels To Watch – April 14
The recent change of character has led to a bearish order flow in the market. According to the MA Cross, the bearish move began as the price headed down to invalidate the $60895.00 low.
BTCUSD has begun to decline alongside a falling trendline. The MACD (Moving Average Convergence Divergence) also indicates a pending crash as it sets to cross the zero line.
BTCUSD Key Levels
Resistance Levels: $68370.00, $72777.00, $73836.00
Support Levels: $59225.00, $53000.00, $43873.00
Bitcoin Metrics
Total Market Capitalization: $2.31T
Bitcoin Market Capitalization: $1.27T
Bitcoin Volume: $65.4B
Market Rank: #1
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