Bitcoin, Global Markets Collapse As World Fears Iran-Israel War

Investors are bracing for significant losses worldwide as Bitcoin and Ethereum crash amid global market fears that Iran will launch a large-scale attack on Israel any day now. Bitcoin has tumbled 22 percent over the past week, with a staggering 13 percent drop only today to around $53,100. Ethereum is down 31 percent on a 7-day stretch and 20 percent since Sunday ($2,337 at 11 AM PKT). Bitcoin traders have liquidated over $620 million in the past 24 hours and more divestments are imminent as bears continue to take over. Factors like uncertainty on US elections, recession, and the possible breakout of all-out war in the Middle East caused investors to cash out in the past 3-4 days. “If there’s a macro or geopolitical collapse, similar to March 2020, we’re likely to see crypto take the brunt of it, as it’s not a high conviction play from much of the ‘tourists’ that have entered the last year,” someone tweeted on X. Our small retention span is tilting towards war as a decisive determinant for seeing cryptocurrencies and other popular business channels fall victim to bears wreaking havoc like never before. Israeli social media has been in panic mode with rumors of a newly operational underground bunker in occupied Jerusalem for protecting Benjamin Netanyahu and his team in case Iran and Hezbollah decide to go on an all-out war against them. This bunker is reportedly capable of withstanding various attacks and is connected to the Israeli Defense Ministry headquarters in Tel Aviv. Japan’s stock market index Nikkei 225 has recorded its largest crash in decades, even surpassing the infamous Black Monday crash of 1987. Meanwhile, global patterns suggest an increase in the purchase of military stocks, though this trend remains unverified. Adding to the tension, the United States Federal Reserve is considering a half-point rate cut next month to stabilize the market and mitigate any big losses in August. Talking about losses, American businessman Warren Buffett’s Berkshire Hathaway has offloaded $75.5 billion worth of stock and halved its stake in Apple. He’s now sitting on a cash pile of $276.9 billion and is simply waiting for market clarity. So, what does all this signify? Opinions vary. Some believe it means nothing substantial, while others fear a series of catastrophic events: World War III, a forced US involvement in Israel, or even a global recession fueled by rampant money printing.