Bitcoin, Ethereum, XRP Rise. How the Iran War Has Made Crypto Calls Tougher. — Barrons.com
-
By Alex Kozul-Wright
The price of Bitcoin was up early Tuesday, as Monday's relief rally — triggered by President Donald Trump's decision to delay strikes against Iran's key infrastructure — broadly maintained its momentum.
Digital asset prices got a boost even as benchmark oil futures rose early in the session. Since the outbreak of war in Iran, energy price surges have generally hit risk assets owing to the market strains associated with stagflation, in which economies face both high inflation and low growth.
But the world's biggest cryptocurrency rose 1.5% over the past 24 hours to $70,489 early Tuesday, according to CoinDesk data. Ethereum and popular alt-coin XRP also posted gains — by 1.2% and 0.7%, respectively. Digital assets may have benefited from widening geopolitical tensions.
Saudi Arabia decided to allow U.S. forces to use King Fahd air base, according to The Wall Street Journal, marking a shift from its earlier stance that Saudi facilities would not be used in the war with Iran. The United Arab Emirates has also taken steps to undermine Tehran.
In particular, the U.A.E. — which has long been a financial hub for Iranian businesses and individuals — warned that it could freeze Iranian-owned assets, whilst also debating whether to send military assets into the fight, The Journal reported.
Still, major future indexes appeared largely unaffected the news. In premarket trading, the S&P 500 futures was down just 0.1%, while Nasdaq 100 futures were trading sideways.
The upshot is that persistent market volatility could well prevent a decisive price move in one direction or the other for cryptocurrencies.
Write to Alex Kozul-Wright at alexander.kozul-wright@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
source: https://www.tradingview.com/news/DJN_DN20260324001602:0/
Hello! It looks like you're interested in this conversation, but you don't have an account yet.
Getting fed up of having to scroll through the same posts each visit? When you register for an account, you'll always come back to exactly where you were before, and choose to be notified of new replies (either via email, or push notification). You'll also be able to save bookmarks and upvote posts to show your appreciation to other community members.
With your input, this post could be even better 💗
تسجيل دخول