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Tensions between Iran and Israel escalated on Saturday evening after Iran launched attacks against Israel. The price fell more than 7% on the news before paring some losses. The world's largest digital coin closed the day down 4.6%.
Israel announced that it had neutralized 99% of the 300 identified threats against its territory.
The Iranian army declared the conclusion of the Tehran operation without further action.
US President Joe Biden condemned Iran's attack, calling it “unprecedented” and calling for a coordinated diplomatic response with G7 leaders.
The recent hostilities are a result of increasing tensions between Iran and Israel, particularly since the war in Gaza began in October.
Accusations and counter-accusations escalated, with Iran accusing Israel of an attack on its consulate in Damascus on April 1.
Investors will be paying close attention to developments in this region given the potential for further escalation and instability in the region.
Bitcoin is currently trading below short-term support around $64,500. The next lower support is around $60,000.
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