Gold Surges While Bitcoin Slips as Iran Threatens Retaliation
Gold prices surged while Bitcoin (BTC) slipped sharply as escalating geopolitical tensions sent shockwaves through global markets.
It suggests investors rush to traditional assets to hedge against financial losses, raising concerns about Bitcoin’s safe-haven status.
Gold Approaches New Highs Amid Israel-Iran WarCrypto markets crashed, recording liquidations reaching $1 billion after Israel’s latest attack on Iran. As of this writing, Bitcoin traded for $104,830, down nearly 3% in the last 24 hours.
Bitcoin (BTC) Price Performance. Source: BeInCrypto
Similarly, the Ethereum price crashed 10% after the attack, exacerbating the liquidations.
In contrast, gold is rising. It is approaching new highs as the precious metal attempts to reclaim its position as the go-to haven during geopolitical stress.
“The deterioration of the geopolitical situation has caused a surge in gold prices,” stock analyst Mary noted.
She emphasized that critical support levels are $3,420, $3,402, and $3,380. A break above $3,440 potentially opens up a move toward the $3,468–$3,493 range during the US session. As of this writing, gold was trading for $3,422.
Gold price performance. Source: TradingView
Gold price could extend higher as the Israel-Iran tension threatens to escalate. Notably, following Israel’s attack on Iran’s nuclear sites and military leadership, Iran warned of a “lethal” response.
This will not be a mere demonstration of will or technological capability.
This time, our response will be lethal.
To make matters worse, the US and North Korea appear to be taking sides. On the one hand, North Korea reportedly pledged military support for Iran. The country is slamming Israel’s actions, which show the need for a military response.
