INSUBCONTINENT EXCLUSIVE:
Key takeaways:Bitcoin swiftly rebounded to $106,000, signaling firm institutional investor demand despite growing global unrest.A sharp 8%
derivatives market remained steady
The price move triggered $193 million in liquidations of bullish leveraged Bitcoin positions, equivalent to 0.3% of total futures open
The current $68 billion in leveraged positions is virtually unchanged from Saturday.Bitcoin futures aggregate open interest, USD
Similar drawdowns have occurred three times in the last 30 days
Still, some traders worry that the potential for a prolonged conflict in Iran could weigh heavily on the global economy, prompting investors
to adopt a more cautious, risk-averse posture.Were Bitcoin miners impacted by conflict in the Middle East?Some analysts noticed a
Between Sunday and Thursday, the hashrate dropped 8%, falling to 865.1 million terahashes per second (TH/s) from 943.6 million TH/s
This sparked speculation about potential disruptions to mining operations in the region.Some industry analysts have long speculated that
unauthorized mining operations in Iran could be drawing as much as 2 gigawatts of electricity, though these claims remain largely
unverified.Source: x/cbspearsAccurately estimating how much mining capacity exists within Iran is nearly impossible due to the lack of
example, pointed out that such fluctuations are frequently tied to temporary reductions in electricity output within the United States
These weather events included heavy rain, large hail, and at least 17 confirmed tornadoes, all of which disrupted the local energy grid and,
consequently, mining activity.Traders more confident in Fed interest rate cutsMeanwhile, oil prices tumbled on Monday after peaking at $77
This move coincided with a 1% gain in the S&P 500 index
Following a retaliatory attack in Qatar, traders increasingly bet on the likelihood that the US Federal Reserve (Fed) will lower interest
FedWatch tool, the implied probability that the Fed will maintain its current 4.25% interest rate through November has dropped to 8.4%, down
from 17.1% just one week earlier
Bitcoin will surge to $110,000 solely on the hope of de-escalation in the Middle East may be premature
However, the swift rebound above $100,000 suggests that institutional interest in Bitcoin remains firm, even amid global tensions.This
article is for general information purposes and is not intended to be and should not be taken as legal or investment advice
