Bitcoin Down But Not Out—Analyst Sees Recovery Ahead Amid Middle East War
Bitcoin briefly dropped to $98,974 after US airstrikes on Iranian nuclear facilities, marking its lowest point since early May. By Monday morning, it rebounded above $101,000. Arthur Hayes, co-founder of BitMEX, views this decline as temporary, predicting that increased money printing by central banks will drive prices higher. The initial price drop was triggered by geopolitical news, but buyers quickly lifted the price back above $101,000. Over the past 12 hours, most altcoins fell by approximately 1.4%, reducing the total crypto market cap by about $50 billion to $3.20 trillion. Analysts suggest that altcoins may outperform Bitcoin if macro risks diminish. Traders are monitoring key price levels: a short-term realized price at $98,000 and trend support at $102,000. Staying within the $98,000–$102,000 range could allow for quick rallies, while a drop below $98,000 may lead to increased selling pressure.
