Українська
Русский
English
Bitcoin, Ethereum, XRP and Altcoins See Sharp Recovery: BTC Surpasses $71,000! Latest Data
The crisis between the United States and Iran continues. As concerns grow that Trump’s statements could escalate the situation in Iran and potentially lead to the closure of the Strait of Hormuz, South Korea’s financial market has fallen into panic.
According to available data, South Korea is expected to be one of the countries most affected by a blockade of the Strait of Hormuz, through which one-third of the world’s crude oil supply and 80% of oil tankers heading to Asia pass.
The KOSPI index fell by 12.06%, marking its largest daily drop.
The KOSDAQ index declined by 14.00%, recording the biggest one-day drop in its history.
The decline was not limited to South Korea. Major Asian indices also fell, including Japan’s Nikkei (-3.88%), Hong Kong’s Hang Seng (-2.79%), and China’s Shanghai Composite Index (-1.3%).
While South Korean and broader Asian stock markets are experiencing heavy sell-offs due to rising geopolitical tensions in the Middle East and uncertainty in oil markets, Bitcoin is showing relative resilience.
Despite the war between the U.S. and Iran, which has reduced global risk appetite, Bitcoin posted a notable recovery — up 2.1% over the past hour and 5.9% over the past 24 hours.
Bitcoin (BTC) surged above $71,000, while Ethereum (ETH) once again crossed the $2,000 level. Other major altcoins also recorded significant gains.
Trade Nation analyst David Morrison stated that for Bitcoin to regain investor attention and continue its upward trend, it must consistently remain above the $70,000 level.
Following the recent surge in the crypto market, $460 million in positions were liquidated over the past 24 hours. Of that amount, $200 million were long positions and $260 million were short positions.
See also: "Bitcoin Stabilizes at $68K as Trump Backs Crypto"
