Summary
- The analysis said that amid an expansion in geopolitical tensions in the Middle East, the main drivers of Bitcoin (BTC) price volatility are shifting from macroeconomic indicators to geopolitical variables.
- James Butterfill, head of research at CoinShares, said the influence of traditional macro data such as interest-rate expectations and employment indicators is weakening, while geopolitical risk is emerging as a new key variable.
- After the dispute between the United States and Iran, Bitcoin rose about 6%, while gold prices gained only about 1%, and global stock markets trended lower over the same period, it said.
Forecast Trend Report by Period
An analysis says that as geopolitical tensions in the Middle East escalate, the key factors determining Bitcoin (BTC) price volatility are shifting from macroeconomic indicators to geopolitical variables.
According to DL News, a media outlet specializing in virtual assets (cryptocurrencies), on the 12th (local time), James Butterfill, head of research at CoinShares, said the influence of traditional macro data such as interest-rate expectations and employment indicators has recently weakened.
He said, "Instead, geopolitical risk is emerging as a new key variable," adding that "the deepening conflict among the United States, Israel and Iran is acting as a tailwind for Bitcoin, and some investors are choosing Bitcoin as a hedge against geopolitical uncertainty."
In fact, since the dispute between the United States and Iran began, Bitcoin has risen about 6%, while gold prices have gained only about 1%. Over the same period, global stock markets were on a downtrend, showing moves that differed from traditional risk-asset patterns, the analysis said.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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