Bitcoin Plummets on Israel-Iran Conflict, Bitcoin Liquidations Surge to $1.16 Billion, and More — Week in Review

Bitcoin plummets on Israel-Iran conflict, Bitcoin liquidations surge to $1.16 Billion, Robert Kiyosaki declares civil war has begun, and more in this Week in Review.

Week in Review

Bitcoin plunged below $104,000 following Iranian airstrikes by Israel. The dip triggered a wave of liquidations totaling $1.16 billion. Economist Peter Schiff seized the opportunity to criticize Bitcoin’s performance. Meanwhile, Robert Kiyosaki warned that a U.S. conflict has begun, suggesting a violent summer ahead and urging investors to flee to Bitcoin. Bitwise CEO Hunter Horsley predicted that Bitcoin will enter a “no-sell zone” once it surpasses $130,000 to $150,000. The ECB confirmed that gold has overtaken the euro as the second-largest reserve asset globally.

Bitcoin Plummets Below $104K as Tehran Airstrikes Send Shockwaves Through Markets

Bitcoin dipped below $104,000 on Wednesday, reaching an intraday low of $103,362 following reports of airstrikes… read more.

Editor’s comment: As discussed in this week’s episode of Token Narratives (Episode 56), the market hasn’t priced in escalation.

Bitcoin Liquidations Surge to $1.16 Billion; Economist Claims BTC Is 15% Lower vs. Gold

Economist Peter Schiff has renewed his criticism of bitcoin, questioning its status as “digital gold” after the cryptocurrency… read more.

Editor’s comment: Gold acted as a safe haven immediately after the news of Israel’s attacks on Iran. Bitcoin isn’t yet that visceral flight to safety, at least in the short term.

Robert Kiyosaki Declares Civil War Has Begun—Warns of Violent Summer

Robert Kiyosaki declares civil war has begun, sounding the alarm on economic collapse and urging a flight to bitcoin… read more.

Editor’s comment: If you haven’t checked out the excellent book The Fourth Turning, you definitely should.

Bitwise CEO: Bitcoin Hits No-Sell Zone Above $130K-$150K

Bitwise’s CEO makes a bold prediction: bitcoin holders will stop selling once the crypto hits the $130K-$150K range… read more.

Editor’s comment: Counterintuitively, Horsley argues that once the price of Bitcoin clears $130K – $150K, buyers will be less likely to sell.

ECB Confirms Gold Dethroned the Euro as the Second Reserve Asset

A recent report by the ECB confirms that gold, following a significant rally in 2024, has become the second-largest asset… read more.

Editor’s comment: You’re telling me that the BRICS, made up of countries that flat-out hate each other, is going to have a better chance than the Euro did at becoming the global reserve asset?