By the end of the week, it briefly looked as though Bitcoin was preparing for another breakout despite the ongoing war in Iran. However, the U.S. attack on the strategically important Kharg oil island quickly pushed the price back toward the 70,000-dollar area. This is reflected in TradingView data.
According to these figures, Bitcoin temporarily lost around 5% on Friday afternoon. From a local high just below 74,000 dollars, the cryptocurrency fell to 70,236 dollars. At the time of writing, BTC is trading near 70,700 dollars.
A similar picture emerged across the altcoin market. Ethereum and Solana each dropped as much as 6.4% intraday, while XRP lost about 5%. Cardano’s ADA fell more than 7% and dropped out of the top 10 largest cryptocurrencies by market capitalization. Overall, the entire market declined by about 4.2%, with total market capitalization falling to 2.38 trillion dollars.
At the same time, the derivatives market has not yet shown a fully clear directional breakdown. Although around 365 million dollars in positions were liquidated over the past 24 hours, losses were distributed almost evenly between long and short traders.
