Major cryptocurrencies rise amid Iran-Israel conflict

Cryptocurrency market strategists report that Bitcoin BTC $110,613.00 Mezo Wrapped BTC -1.22% Market capitalization $40.93 million VOL. 24 hours $0.74 billion , Ethereum ETH $4,260.44 Bridged Ether (StarkGate) -1.58% Market capitalization $0.1 billion VOL. 24 hours $0.88 billion , and Dogecoin DOGE $0.21 Binance-Peg Dogecoin -1.99% Market capitalization $0.55 billion VOL. 24 hours $0.12 billion have risen amid news that the oil infrastructure remained intact during Israel’s attack on Iran. Thus, the flagship of the crypto market rose above $ 68,000, and Dogecoin grew by 4.2% to $ 0.1416. The decline in oil prices — in particular, a 4.6% drop in the price of WTI crude oil to $ 68.48 per barrel — further affected the crypto market, prompting investors to actively trade in digital assets.

According to analysts, the total liquidation of positions in cryptocurrencies over the day reached $ 70 million, of which $ 45 million were short positions. The fear and greed index is at a pessimistic 54 points.

As a reminder, crypto analyst Michael van de Poppe predicts a breakthrough for bitcoin over the next two weeks, expecting the price to reach $ 90,000-$ 100,000 by the end of the year. The expert noted that the current cycle for bitcoin is more complicated and may last longer than the usual four-year cycles due to the impact of liquidity and interest rates.