Odaily Planet Daily report: Affected by the conflict between the United States and Israel-Iran, Bitcoin fell nearly 5% this week, while the S&P 500, Dow Jones, Nasdaq, and gold also declined, and crude oil rose 7.3%, up 53% since the war began on February 28.
The Kobeissi Letter reported that over the past three months, S&P 500 ETFs and Nasdaq 100 ETFs experienced a combined outflow of $64 billion, the highest on record, accounting for approximately 5% of total assets under management. Spot Bitcoin ETFs also recorded a net outflow of $253 million over the past two days.
Glassnode data shows that the market is struggling to absorb selling pressure, with Bitcoin’s net realized profit realization briefly accelerating to approximately $17 million per hour, before losing momentum and price falling below $70,000. Analysis indicates that geopolitical uncertainty has compressed market demand depth, making it difficult to absorb even moderate selling volumes.
Historical experience shows that Bitcoin’s price movement is mirroring its behavior during the Russia-Ukraine war: an initial sell-off followed by a short-term rebound, then a resumption of downward pressure. Analysts believe that rising energy costs, tight liquidity, and sustained forced selling are prolonging Bitcoin’s recovery. Finish expects Bitcoin to potentially bottom near $55,000 before gradually rebounding, but market sentiment will remain cautious until the Iran conflict is resolved. (Cointelegraph)