Bitcoin has gained nearly 10% in the past few days as geopolitical tensions in the Middle East eased. The world's largest cryptocurrency surpassed the $108,200 level today, according to Coinbase data, recovering 9.9% from the lows of around $98,400 seen on Sunday, June 22. Analysts have highlighted several factors that have supported this rally, with the most important one being the easing of concerns about conflict in the Middle East. “Bitcoin’s recovery today reflects the easing of geopolitical tensions in the Middle East,” said Thomas Perfumo, Kraken’s global economist. Perfumo noted that Bitcoin, as a macroeconomic asset, has already priced in changes in market risk perception. In addition, the ongoing interest of institutional investors is among the factors supporting the rise. Stating that companies such as MicroStrategy continue to purchase Bitcoin, Perfumo said that newly established funds also reinforce this cycle. He stated that the continuous inflows into spot Bitcoin ETFs also create strong momentum when the selling pressure in the market decreases. Related News: BREAKING: Spot ETF Application Filed for Surprise Memecoin Brett Sifling, portfolio manager at Gerber Kawasaki Wealth & Investment Management, attributed Bitcoin’s rise this week to three main reasons. First, the temporary ceasefire between Israel and Iran has facilitated investors’ return to risky assets. Second, the Fed’s signals about possible interest rate cuts and its adoption of a crypto-friendly approach have boosted the market. Third, he said that positive inflows to Bitcoin ETFs for 10 consecutive weeks show that institutional demand is still strong. Dom Kwok, co-founder and COO of education platform EasyA, also said that President Trump’s signal for a ceasefire between Israel and Iran has brought relief to the market. He said that tensions over the weekend briefly dropped Bitcoin below $100,000, but investor confidence has been restored as energy markets have stabilized. Kwok noted that for long-term investors, such rapid declines are often just minor “chart breaks.” “Volatility makes headlines, but it’s important not to forget the bigger picture that drives gains,” he concluded. *This is not investment advice. Continue Reading: Why Did Bitcoin and Altcoins Suddenly Rise? Experts Explain Three Reasons
