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Bitcoin price pares some losses following Iran's attacks at Israel

Published 04/14/2024, 04:40 AM
Updated 04/14/2024, 05:34 PM
© Reuters

Tensions between Iran and Israel escalated on Saturday night after Iran launched attacks against Israel. Bitcoin price fell more than 7% on the news, before paring some losses. The world's largest digital coin closed the day 4.6% lower.

Israel announced it neutralized 99% of the 300 identified threats aimed at its territory.

Iran's army declared the conclusion of Tehran's operation without further actions.

U.S. President Joe Biden condemned Iran's strike, labeling it "unprecedented" and called for a coordinated diplomatic response with G7 leaders.

The recent hostilities follow heightened tensions between Iran and Israel, particularly since the start of the war in Gaza in October. 

Accusations and counter-accusations have escalated, with Iran accusing Israel of an attack on its consulate in Damascus on April 1.

Investors will be following developments in this region quite closely amid the potential for further escalation and instability in the region.

Bitcoin is now trading below the near-term support around $64,500. The next support lower is located near $60,000.

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