Key points:
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In a world where Bitcoin dances precariously below $103,000, the markets hold their breath, caught in the throes of the Israel-Iran conflict. Who knew digital coins could be so dramatic? 🎭
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Oil, that slippery substance, steals the spotlight today, but opinions on its future are as divided as a family at Thanksgiving dinner. 🦃
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Predictions for BTC suggest a rebound, shaking off the specter of further losses like a dog shaking off water after a bath. 🐶
Bitcoin (BTC) made a valiant leap past $105,000 as the sun rose on June 13, just as Wall Street opened its doors, all eyes glued to the unfolding Israel-Iran saga. 📈
Oil may yet see “final flush” after day of gains
Data from CryptoMoon Markets Pro and TradingView revealed BTC/USD staging a modest rebound after a dip to $102,816 on Bitstamp. It’s like watching a soap opera, but with more numbers and less romance. 📉
Geopolitical tensions sparked snap losses across crypto and stocks overnight, while oil soared and gold hit two-month highs. Talk about a rollercoaster! 🎢
Both the S&P 500 and Nasdaq Composite Index were down around 1% at the time of writing. It’s like watching your favorite team lose, but with more spreadsheets. 📊
Crypto commentators had mixed opinions on how a resurgent oil price might impact Bitcoin and altcoins. “Oil up. Gold up. Bitcoin down,” quipped crypto entrepreneur Anthony Pompliano on X, channeling his inner prophet. 🔮
He recalled earlier Middle East tensions, predicting that BTC would eventually benefit. “Bitcoin ended up outperforming the other two over the first 48 hours in that situation. Will be interesting to see what happens here,” he mused, probably while sipping a latte. ☕
Popular analytics resource Bitcoin Macro saw oil’s gains as potentially short-lived. “Oil might have a significant move down after this. So far, it looks clear that they aren’t and won’t be targeting Iran’s oil facilities,” they stated, sounding like a weather forecaster predicting a sunny day. ☀️
“The premium might evaporate, and technically oil might have its final flush down before going up.”
In October last year, Arthur Hayes, former CEO of crypto exchange BitMEX, argued that a sea change in the Middle East would fuel both oil and BTC price action. “Bitcoin is stored energy in digital form. Therefore, if energy prices rise, Bitcoin will be worth more in terms of fiat currency,” he said, sounding like a modern-day philosopher. 🧙♂️
Bitcoin price explores “double bottom level”
Among traders, short-term perspectives on BTC/USD remained optimistic. It’s like watching a group of friends cheer for their favorite underdog. 🐾
Popular trader CrypNuevo noted that the price had returned to the 50-day exponential moving average (EMA), a trend line functioning as support since late April. “I think we’re good for more upside as long as we manage to hold the $100k psychological support level,” he told his followers on X, probably while crossing his fingers. 🤞
Fellow trader Crypto Caesar predicted that Bitcoin would “recover soon,” calling the overnight lows a “double bottom level.” Sounds like a fancy dance move, doesn’t it? 💃
“Nice bounce thus far & lack of follow through lower,” trader Skew continued, sounding like a sports commentator. “Expecting still some caution in markets today & over the weekend for crypto regarding Iran & Israel. Likely to see tight correlation to global markets as well.”
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2025-06-13 18:48