Bitcoin recovers slightly after shock.

Despite a slight recovery, investor sentiment remained cautious following the US and Israeli airstrikes on Iran, which sparked renewed uncertainty in the Gulf region.

Cryptocurrencies reacted instantly to news of the joint US-Israeli military operation on February 28th. Bitcoin's price plummeted by 3.8% at one point, falling close to $63,000/BTC. According to data from CoinGecko, the total cryptocurrency market capitalization was wiped out by $128 billion in just minutes due to a wave of mass liquidations.

This morning in the London market (UK), Bitcoin briefly recovered by 2.2%, reaching $68,196/BTC after Iran confirmed the death of Supreme Leader Ayatollah Ali Khamenei. However, this upward momentum did not last long, as the price quickly retreated to the $67,000/BTC range (as of 7:30 AM London time).

Hayden Hughes, managing partner at Tokenize Capital, believes the current recovery in bitcoin is primarily technical after the temporary sell-off subsided. He noted that the real price consolidation will take place on March 2nd, when the US stock market and bitcoin ETFs reopen after the weekend.

This expert warns that geopolitical risks are no longer localized events as tensions have spread across the Gulf region, including missile attacks in Dubai and the risk of closing the Strait of Hormuz. Capital flows into bitcoin ETFs will be the "most important variable to watch." If these flows reverse, the price of bitcoin could easily break through the $63,000/BTC support level.

Despite the escalating conflict in the Middle East, a segment of investors remains optimistic. Data from the Deribit exchange shows that $1.87 billion worth of put options are concentrated at $60,000/BTC, indicating continued high demand for hedging. However, call options are also beginning to accumulate towards the $75,000/BTC mark.

Markus Thielen, head of research at 10x Research, suggests that many traders are ignoring political volatility to focus on the upcoming Federal Reserve meeting. Richard Galvin, co-founder of Digital Asset Capital Management, further explains that many investors have taken advantage of this weakness as an opportunity to "buy on dips" or close short positions.

Currently, Iran has launched counterattacks on multiple locations in Israel, Qatar, the United Arab Emirates (UAE), and Bahrain, while also threatening to attack US-linked bases in Iraq. Analysts advise investors to exercise maximum caution before traditional financial markets open for trading this week.

Source: https://vtv.vn/bitcoin-phuc-hoi-nhe-sau-cu-soc-100260301180953461.htm