Situation in the Middle East downs Bitcoin price

The situation in the Middle East are prompting investors to increase safety (and thus take profits) in their portfolio. Bitcoin is still struggling to break the $110,000 ceiling and is trading below it again. Is this just a brief pause until we set a new ATH or is there more to it?

Investors

The attacks of Israel and Iran has irked many investors. They are reducing their positions in risky investments (which includes Bitcoin long positions) and are again opting for more defensive stocks and bonds.

The oil price quickly rose by 4%. Bitcoin is now trading for $104k.

Partly because of this, and the fact that there are still quite a few sellers around the $110,000 level, the largest digital currency is having a hard time rising further. The good news is that Bitcoin is not immediately falling below $100,000, which means that fresh investment capital around the current price level is easy to find.

It is expected that the geopolitical turmoil between Iran and the United States must subside before a new ATH can be reached and the stock markets can also climb strongly again.