Major cryptocurrencies rise amid Iran-Israel conflict

Cryptocurrency market strategists report that Bitcoin BTC $63,492.49 Bitcoin -0.36% Market capitalization $1.27 trillion VOL. 24 hours $0.82 billion , Ethereum ETH $1,878.31 Ethereum -0.25% Market capitalization $226.68 billion VOL. 24 hours $0.32 billion , and Dogecoin DOGE $0.07 Dogecoin -4.96% Market capitalization $10.75 billion VOL. 24 hours $35.61 million 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.