Israeli military confirmed on Saturday that they have carried out an airstrike resulting in the death of Hezbollah leader Hassan Nasrallah, causing global market tensions to rise. As a consequence, the price of Bitcoin has experienced a slight 1% decrease to $65.6K, potentially leading to further declines towards lower support levels.
In response to criticisms at the United Nations, Israeli Prime Minister Benjamin Netanyahu defended Israel’s actions in Gaza and Lebanon. Within a day of this statement, the Israel Defense Forces claimed responsibility for Nasrallah’s death in Beirut. Furthermore, IDF shared updates on the situation, including the sounding of sirens in northern Israel and the elimination of other key Hezbollah figures.
While stock markets remained closed, Bitcoin faced downward movement following the reported incident. Despite this, market participants anticipate a positive trend in October, although geopolitical uncertainties could disrupt this outlook. Additionally, there were reports of heightened security measures for Iran’s Supreme Leader Ayatollah Ali Khamenei following Israel’s operation against Hezbollah.
The sentiment around Bitcoin remains positive overall despite the recent events, with the Crypto Fear & Greed Index showing an increase in investor confidence. Moreover, news of potential interest rate cuts by the US Federal Reserve further supports a bullish market outlook. In the cryptocurrency market, spot Bitcoin ETFs experienced significant inflows, with BlackRock making notable investments as well.
In light of geopolitical influences, the price of Bitcoin may face pressure and potentially drop to $65,033, representing a critical retracement level. As of now, Bitcoin is trading at $65,752 with a 24-hour low and high of $65,346 and $66,480. There has been a notable decrease in trading volume, suggesting reduced interest among traders.
For more information on the impact of Israel’s actions on Bitcoin price, you can read the full article on CoinGape.