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<a href="https://en.coin-turk.com/bitcoins-unstable-position-market-influences-and-future-predictions/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) and Ethereum (ETH) are flexing their muscles as stock markets plummet and oil prices rise in response to the Israel-Hamas tension in the Middle East. Market experts warn that the deepening tension, the increase in oil prices, and the decline in stock markets could also affect the cryptocurrency market.
<h2 style="text-align: justify" id="strong-israel-hamas-tension-boosts-oil-prices-strong">Israel-Hamas Tension Boosts Oil Prices</h2>
The Israel-Hamas tension entered its third day after the Palestinian militant group Hamas launched missile attacks on Israel early last Saturday and infiltrated the country. The fear of the conflict spreading to neighboring countries like Iran has led investors to believe that oil supply could decrease, resulting in a surge in oil prices.
<img decoding="async" class="aligncenter size-full wp-image-264615" src="https://coin-turk.com/wp-content/uploads/2023/10/Israil-Hamas-Gerilimi-Bitcoin-Altcoin.jpeg" alt="" width="1280" height="720">
Josh Young, the Chief <a href="https://en.coin-turk.com/what-is-the-limit-on-crypto-exchanges/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investment</a> Officer of energy investment firm Bison Interests, stated in an interview with CNBC that US sanctions on Iranian exports could have dramatic effects on the oil market.
According to MarketWatch data, WTI Crude Oil has risen 3.23% since Sunday, increasing its three-month gain to 16%. Brent Crude Oil has also risen by approximately 3.5%.
Furthermore, stock markets in Asia started the week and the new week with a decline. The Indian Sensex started the week with a 0.69% decrease, while the Shanghai Composite dropped by 0.44% and the Singapore Straits Times Index fell by 0.2%. In the US, pre-market futures indicate a decline, with the Dow Jones Index down 0.77% and the technology-heavy Nasdaq 100 Index down 0.86%.
<h2 style="text-align: justify" id="strong-bells-toll-for-the-cryptocurrency-market-strong">Bells Toll for the Cryptocurrency Market</h2>
The largest cryptocurrency Bitcoin and the largest altcoin Ethereum have experienced a minimal change with a small 0.2% decrease in the last 24 hours. Ripple’s XRP has dropped by 1.3%, while Cardano’s <a href="https://en.coin-turk.com/cardano-ada-whale-activity-sparks-potential-rebound-amid-legal-troubles/" data-wpel-link="internal" rel="noopener noreferrer nofollow">ADA</a> has increased by 0.4%. The total market capitalization of the cryptocurrency market is signaling a slight loss with a 0.25% decrease over the past 24 hours, amounting to $1.09 trillion.
Market observers and experts point out that the deepening Israel-Hamas tension could lead to an escape from risky assets such as Bitcoin and altcoins, while the long-term increase in oil prices is expected to continue. They are concerned that this situation could cause inflation, which central banks worldwide, including the US Federal Reserve, are trying to reduce, to gain momentum again. This could pave the way for central banks to continue their tight monetary policies for a much longer period. Continue Reading: <a href="https://en.coin-turk.com/israel-hamas-tension-shakes-the-markets-bitcoin-and-altcoins-on-alert/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/israel-hamas-tension-shakes-the-markets-bitcoin-and-altcoins-on-alert/</a>

Israel-Hamas Tension Shakes the Markets: Bitcoin and Altcoins on Alert!

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