Bitcoin (BTC)'s price is showing signs of resilience, even as broader equity markets slid and oil prices rose as traders reacted to Hamas launching a surprise attack against Israel.
Chart of the day is brought to you by crypto dot com. The world's fastest growing crypto app. Bitcoin is showing signs of resilience as broader equity markets slide and oil prices rise as traders react to the horrific massacres that occurred in Israel after Hamas launched a series of war crimes against humanity. Um Joining us now to discuss is a co founder and Ceo Wayne Steinberg. Welcome Rene. Thank you for having me. Good morning. Good, good to see you. You know, we, we're now in the third day of fighting and one of the, the clearly, it's, you know, one of the most horrific things we've seen in the Middle East with, with hundreds dead civilians dead purposely targeted this, this seems to have been perpetrated. In part, it looks like one of the biggest oil producers in the world Iran involved. And it also upends a potential peace deal with Saudi Arabia, which seems to have been the purpose of this. Uh what does that mean? Ultimately, for the markets right now, particularly crypto that, that we now have this bit of extra amounts of not just volatility but uncertainty after peace was so close at hand. Sure. Uh Yes, I mean, the tragedies of the area are incredible and our hearts grow to everybody involved. Um, as you said, we've only had a few days after this and, you know, market reactions, initial ones are notoriously fickle. So it's early to say directionally what's going to happen. But I think importantly, if you look back um to a later corollary when we had a geopolitical incident, the Ukraine War and Russia's invasion happened with digital assets and some of the things that are similar and then some of the things that are different, similar war disruption difference at least so far was the economic and sanction reaction of the world to the Ukraine War, which had a lot to do with digital assets rise. So I think it's too early to say exactly how digital assets are going to react to this.