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▲ US, Iran, Bitcoin (BTC), Ethereum (ETH), XRP, cryptocurrency rebound/ChatGPT generated image
Military clashes between the United States and Iran have intensified again. However, the cryptocurrency market reacted immediately to the news that technical negotiation channels have not been severed. Bitcoin (BTC) surpassed $64,000, and XRP and Dogecoin (DOGE) also rebounded, making the continuation of negotiations amidst geopolitical tensions a key market variable.
According to CoinGape, a cryptocurrency specialized media outlet, on July 10 (local time), a US government official stated that despite recent attacks, the US is committed to resolving the situation and will continue technical negotiations with Iran. The negotiation agenda included nuclear issues, performance-based memoranda of understanding, sanctions, and transportation issues in the Strait of Hormuz. Following the news of ongoing technical negotiations, oil prices fell, the US 10-year Treasury yield dropped to approximately 4.54%, and the dollar index retreated to around 100.5. Asian stock markets and the cryptocurrency market also showed an upward trend.
Tensions in the Middle East remain high. US President Donald Trump had previously declared that the ceasefire was "over," and Israel conveyed information to the US that Iran was planning a new assassination attempt targeting Trump. Reports also emerged that Kuwait, the UAE, and Bahrain launched joint attacks targeting Iran with US intelligence support. Iran attacked Kuwait, Bahrain, Jordan, and Qatar, and also targeted US military facilities.
Following the news of ongoing negotiations, Bitcoin rose over 1% in an hour, surpassing $64,000. Its increase over the past two days reached approximately 4%. According to CoinGlass data, Bitcoin futures open interest increased by 2.7% in four hours, exceeding $47 billion. Large-scale buying was observed in major trading markets such as CME, Binance, OKX, and Bybit.
XRP also rebounded to around $1.11. Its intraday low and high were $1.09 and $1.11, respectively. Dogecoin rose over 2% in four hours to $0.074, and XRP and Dogecoin futures open interest also increased by 1% during the same period. CoinGape reported that the buying spree in the derivatives market, coupled with movements related to US-Iran ceasefire and nuclear negotiations, coincided with the rebound in cryptocurrency prices.
Even amidst ongoing military tensions between the United States and Iran, technical negotiations are set to continue. Bitcoin futures open interest increased by 2.7% in four hours, surpassing $47 billion, while XRP and Dogecoin futures open interest also rose by 1%. The cryptocurrency market rebounded across the board amid news of ongoing negotiations and buying trends in the derivatives market.
[Article Summary]
-A US government official stated that despite recent attacks, technical negotiations with Iran, covering nuclear issues, sanctions, and transportation in the Strait of Hormuz, will continue.
-Bitcoin rose over 1% in an hour, surpassing $64,000, and its futures open interest increased by 2.7% in four hours, exceeding $47 billion.
-XRP rebounded to around $1.11, Dogecoin rose over 2% in four hours, and futures open interest for both assets increased by 1%.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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