Bitcoin Value Rebounds Amid Middle East Tensions
(MENAFN) Bitcoin's value rebounded on Monday, regaining momentum after being hit hard by the recent Iran-Israel military clashes.
Following a sharp near 1% decline on Friday tied to escalating conflict in the Middle East, the world’s leading cryptocurrency is now climbing once again. Just days earlier, Bitcoin neared its all-time high of $111,970 before geopolitical risks pressured prices downward.
The conflict intensified last Friday when Israel launched strikes targeting Iran’s nuclear and missile installations. In response, Iran fired ballistic missiles that inflicted casualties and property damage in Israel.
As of 0650 GMT Monday, Bitcoin surged 3.1%, reaching $106,700. Additionally, the cryptocurrency’s trading volume jumped 13.67% over the past 24 hours, hitting $40.46 billion.
Ethereum, which experienced a 4% dip on Friday amid the turmoil, also bounced back strongly, climbing 5% to $2,619.92 according to data from CoinMarketCap.
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