Bitcoin Briefly Tops $105K Amid Volatility and Geopolitical Shifts
Bitcoin (BTC) experienced sharp volatility over the past 24 hours, briefly spiking to $105,209.86—a 4.20% gain, according to CryptoCompare. Other platforms showed varying data: CoinDesk reported a dip below $103,400 before BTC recovered to $103,127.30, a 3.65% rise, while CoinMarketCap listed the price at $103,889.77, reflecting a 5.36% increase and a 24-hour trading volume of $60.43 billion. These discrepancies underscore ongoing price sensitivity and liquidity variations across major exchanges.
The week proved challenging for Bitcoin. CoinGecko recorded a 4.40% weekly decline, as BTC fell from $111,953.60 to a low of $98,249.20, per Investing.com. Analysts link the drop to heightened macroeconomic concerns and geopolitical tensions—particularly escalated conflict in the Middle East. Reports of U.S. airstrikes in Iran triggered a risk-off shift, with investors retreating to traditional safe-haven assets like the U.S. dollar and treasuries, as noted by Cointelegraph and several commentators on X (formerly Twitter).
However, sentiment reversed after former U.S. President Donald Trump reportedly announced a ceasefire between Iran and Israel. This development, according to CoinDCX analysts, sparked renewed bullish momentum, propelling Bitcoin past $106,000 and forming a strong bullish candle. While most major altcoins saw modest gains, smaller tokens like SEI surged nearly 35%, with WIF and SPX also rising more than 20%.
In regulatory news, the U.S. Federal Reserve removed the “reputational risk” clause that had discouraged banks from engaging with crypto—seen as a positive signal for institutional adoption. Meanwhile, MicroStrategy CEO Michael Saylor added $26 million worth of BTC at $105.8K, bringing the company’s holdings to 592,345 BTC, valued at $41.87 billion. Europe’s The Blockchain Group also expanded its treasury with a 75 BTC purchase.
Spot Bitcoin ETFs continued attracting capital, posting $350 million in net inflows, while Ethereum ETFs saw $101 million in inflows with no recorded outflows.
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