Summary of Bitcoin tanks, gold rebounds as Israel vows Iran ‘will pay’ for attack

Summary of Bitcoin tanks, gold rebounds as Israel vows Iran ‘will pay’ for attack
https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-10/01924b2e-4b72-751c-9fa2-8eb85cbd3143

The source article:

quoting nevent1q…g7c6

Bitcoin tanks, gold rebounds as Israel vows Iran ‘will pay’ for attack
https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-10/01924b2e-4b72-751c-9fa2-8eb85cbd3143

The price of Bitcoin fell around $4,000 after Iran fired around 200 ballistic missiles at Israel, escalating the conflict in the Middle East.

https://cointelegraph.com/news/bitcoin-safe-haven-status-questioned-amid-middle-east-conflict

Commodities like Gold and Crude oil surged due to Middle East tensions, while Bitcoin took a hit, sparking debates on its safety as an asset. Gold reached $2,665 per ounce near its all-time high, while Crude oil hit $72 per barrel. Bonds and the US dollar rose after Iran launched a major airstrike on Israel. Bitcoin dropped over 3%, showing its vulnerability during geopolitical turmoil. Analysts have varying views on Bitcoin's status as a safe haven asset, with some believing it still needs to mature into a potential substitute for Gold.