Israeli intelligence warns of a possible imminent Iranian attack.
Financial markets brace for volatility; Bitcoin could drop to $38K.
The geopolitical tension is expected to impact global commodities, including oil prices.
Recent Israeli intelligence reports suggest that Iran may be planning an attack on Israel in the coming days, raising concerns about the potential for an escalating conflict in the Middle East. Israeli Minister of Defense Yoav Gallant has indicated that Iran, potentially in coordination with Hamas, is planning a significant move against Israel.
JUST IN: 🇮🇱 🇮🇷 Israeli intelligence believes Iran will attack directly within days – Jerusalem Post pic.twitter.com/NcDUN3rMUI
— Radar🚨 (@RadarHits) August 11, 2024
During a visit to defense forces on Sunday, Gallant warned that Iran is threatening actions of unprecedented severity, urging preparedness while expressing hope that war can be avoided. Axios reported:
Iran and Hezbollah are threatening to harm us in a way they haven’t done in the past. I hope that they will rethink and not lead to the outbreak of war on additional fronts. We do not want this, but we must be prepared.”
This heightened tension in the Middle East is already prompting reactions in global financial markets. As expected, market analysts are closely monitoring the situation, particularly its potential impact on commodities like gold, oil, and cryptocurrencies such as Bitcoin (BTC).
One financial analyst on X speculated that a conflict could drive Bitcoin to a new low, potentially pushing its price down to $38,000.
“Per intelligence reports, the Middle East war should start tomorrow or sometime tonight. This should send Bitcoin to 38K (now 60K) and send Gold to 2700. Oil back above 85,” the analyst stated.
Bitcoin recently fell below $60,000, and further geopolitical instability could exacerbate its volatility. As of press time, BTC dropped 1.45% from its early-hours price of $60,520 to $59,640.
Meanwhile, Gold, often seen as a haven during crises, could see its price rise to an all-time high of $2,700 if the conflict escalates. Oil prices, which have been volatile in recent months, could also surge above $85 per barrel in response to regional disruptions.
As the situation develops, investors and markets are preparing for potential fluctuations. The outcome of the tensions is likely to have a significant impact on global economic trends.
The post Bitcoin, Gold, Oil on Watch as Israel-Iran Tensions Flare appeared first on Coin Edition.
