Dogecoin

Bitcoin

when

mirror

According to the latest market analysis, there has been a sharp decline in demand for Bitcoin (BTC) following escalating tensions in the Middle East. 
Data from CryptoQuant reveals that Bitcoin’s Net Buyer Volume (a measure of whether buying or selling pressure is dominant) has dropped significantly since Tuesday, when Iran launched more than 180 ballistic missiles at Israel in retaliation for Israel’s attacks on Hezbollah positions in southern Lebanon. 
“Buying pressure has remained low since the Iranian attack,” said JA Maartuun, an analyst at CryptoQuant. “The drop in net buyer volume above $150 million indicates significant selling pressure, and the fact that it has not surpassed $100 million since then suggests a lack of strong buying momentum.” 
Related News: <a href="https://en.bitcoinsistemi.com/mark-cuban-previously-known-to-be-a-dogecoin-fan-made-unexpected-statements-about-doge/" target="_blank" rel="dofollow">Mark Cuban, Previously Known to be a Dogecoin Fan, Made Unexpected Statements About DOGE</a> 
This latest pullback comes amid broader economic trends that have historically seen safe-haven assets like gold perform well during periods of geopolitical uncertainty. A recent CryptoQuant post highlighted a similar trend from 2008 to 2011, when low U.S. Treasury yields pushed gold prices from $590 to $1,900 per ounce. 
While Bitcoin is often referred to as “digital gold” due to its perceived store of value, analysts have noted that Bitcoin has yet to mirror gold’s current bullish trajectory. “Despite falling U.S. Treasury yields and expanding M2 Money Supply, gold is benefiting from these conditions while Bitcoin is not,” Maartuun said, pointing to the current negative correlation between the two assets. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/whats-the-demand-for-bitcoin-after-irans-israeli-tensions-analysis-company-shares-what-they-expect/">What’s the Demand for Bitcoin After Iran’s Israeli Tensions? Analysis Company Shares What They Expect</a>

What’s the Demand for Bitcoin After Iran’s Israeli Tensions? Analysis Company Shares What They Expect

Bitcoin Sistemi EN

Other articles published on Oct 3, 2024

Michael Saylor's MicroStrategy to Issue $700M in Senior Convertible Notes to Buy More Bitcoin

Why XRP Price Fell By 15% Today After Breakout Attempt?

Analyst Spots Terra Classic (LUNC) Double Bottom. Here’s the Significance

9 Ways to Make Passive Income Through Cryptocurrency in 2024

MicroStrategy Acquires 7,420 More Bitcoin, Bringing Total Holdings to 252,220 BTC

Why WallitIQ (WLTQ) Is The Next 1000x Crypto Presale You Do Not Want To Miss

Join our free newsletter for daily crypto updates!