Bitcoin (BTC) To Slip As Israel Kills Hezbollah Leader?
Highlights
- Israeli military claims it has killed Hezbollah leader Hassan Nasrallah in an airstrike.
- Bitcoin price action saw a slight downward move, risking downward move on geopolitical events.
- Crypto market sentiment remains bullish overall.
Israeli military on Saturday claims it has killed Hezbollah leader Hassan Nasrallah in an airstrike, raising geopolitical tensions in the global markets. Bitcoin price has slipped nearly 1% to $65.6K in the last few hours, risking further retracement to low support levels.
Israel Kills Hezbollah Secretary General Hassan Nasrallah
Israel’s Prime Minister Benjamin Netanyahu rejected criticism of Israel’s war in Gaza and against Hezbollah in Lebanon at the United Nations recently. Within just 24 hours of Netanyahu’s denial to cease fire, Israel Defense Forces (IDF) on September 28 claimed it killed Hezbollah leader Hassan Nasrallah in the Bierut airstrikes.
We searched up “dismantled” on the internet, this is the picture that came up: pic.twitter.com/C5p3jmhwIZ
— Israel Defense Forces (@IDF) September 28, 2024
IDF posted on X about sirens sounding in northern Israel again after killing Hezbollah leader, together with Ali Karki, the Commander of Hezbollah’s Southern Front, and additional Hezbollah commanders. “We will keep operating against Hezbollah until all of our civilians can safely return home,” added IDF.
Stock markets are closed, but Bitcoin price action saw a slight downward move on Saturday. Market participants are expecting a massive bullishness in October, but geopolitical risks can spoil the mood.
Reuters reported that Iran’s Supreme Leader Ayatollah Ali Khamenei is moved to a secure location. The move comes after Israel announced that it had killed Hezbollah chief Hassan Nasrallah in a strike.
Bitcoin Price Action Today
Bitcoin slipped slightly after Israel claimed killing Hezbollah leader, but the overall trend and sentiment remain bullish. Crypto Fear & Greed Index indicated sentiment improved from 61 (greed) to 64 (greed) today.
The PCE inflation data also hinted at another 50 bps rate cut by the US Federal Reserve. CME FedWatch tool shows an increase in probability for 50 bps from 49.3.7% to 53.3%after the latest inflation data, supporting further bullishness in markets.
Spot Bitcoin ETFs inflow climbed over $1 billion this week, with a staggering $495 million inflow on Friday. Moreover, BlackRock has purchased 198,874 shares of IBIT for its Global Allocation Fund.
If Bitcoin price action succumbs to geopolitical pressure, it can drop to $65,033, a 0.382 Fib retracement level. Currently, it’s bouncing from $65,500 support level.
BTC price currently trades at 65,752, with a 24-hour low and high of $65,346 and $66,480, respectively. Trading volume has also dropped by 33% in the last 24 hours, indicating a decline in interest among traders.
- Is Changpeng “CZ” Zhao Returning To Binance? Probably Not
- Ripple-Backed Evernorth XRP Treasury’s Holdings Reach $1B Ahead of Nasdaq Listing
- Crypto Market Rally: BTC, ETH, SOL, DOGE Jump 3-7% as US China Trade Talks Progress
- Indian Court Declares XRP as Property in WazirX Hack Case
- Ethereum Supercycle Strengthens as SharpLink Gaming Withdraws $78.3M in ETH
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
- PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
- Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK
- SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
