❌ Warning about the Bitcoin price: This week will be eventful as the war enters its second month
Exactly a month ago, the United States and Israel carried out joint military strikes targeting several Iranian sites, including the elimination of the country's Supreme Leader, in an operation presented as being quick and limited.
However, American optimism has not translated into tangible results on the ground; Iran rejected the proposal for a ceasefire, and the scene has become more complicated than what the U.S. administration's speech suggested.
🚨48 critical hours:
The repercussions of this conflict have surpassed the region's boundaries to affect the global economy as a whole.
Where oil prices closed above $100 a barrel on Friday after a volatile journey that saw sharp increases followed by similar declines.
At the same time, the S&P 500 index has dropped to its lowest levels in months, while the yield on ten-year U.S. Treasury bonds approaches the 4.5% barrier.
The account 'The Kobeissi Letter' on platform X sees that the U.S. administration is forced to contain the bond market immediately, and they expect a highly volatile weekend.
According to the analyst's estimates, the absence of any progress in peace negotiations or addressing the energy crisis before the futures contracts open on Sunday evening will push the yield on ten-year bonds to exceed 4.50% during the next week.
💎The price of Bitcoin is in the crosshairs of fluctuations:
The price of Bitcoin was not immune to the ongoing disturbances; it jumped by about $13,000 at one point from $63,000 to $76,000, before losing momentum and falling below $66,000.
Being the only asset traded 24/7 makes it the most responsive to events during weekends, as proven last month when its volatility doubled with each opening of the futures markets.
Currently, the price of Bitcoin has rebounded above $66,000, but it still records a weekly loss of about 6%, and it is likely to continue its volatile journey in the coming days.