Bitcoin recovers after sharp fall amid escalating conflict in the Middle East
Analysis by Quasar Elizundia, Expert Research Strategist – Pepperstone
“Bitcoin prices were volatile on Friday, recovering from a sharp intraday decline that briefly sent prices below USD 103,000. The move follows renewed geopolitical tensions after Israeli airstrikes on Iranian positions.
Despite recent volatility, institutional demand remains resilient. Bitcoin ETFs registered USD 86.3 million in net inflows on Thursday, bringing the weekly total to USD 1.067 billion. Cumulative ETF inflows have now reached near record highs of USD 45.3 billion. Additionally, GameStop, which recently initiated a Bitcoin treasury strategy, disclosed a purchase of 4,710 BTC valued at USD 513 million.
Looking ahead, macro and geopolitical risks remain key drivers. However, the ongoing support from both institutional and corporate actors may help buffer further downside risks and support Bitcoin’s medium-term resilience.”
Zaid Barem / ymm