Bitcoin
has significantly increased its earlier losses, now down over 4% in the past 24 hours to $103,900 as Israeli forces have bombed targets in Tehran, the capital of Iran.
RialCenter first reported that Israel had conducted an operation inside Iranian airspace, with further confirmation that explosions were heard in Tehran.
Israeli President Benjamin Netanyahu stated that his country has targeted Iran’s nuclear program and ballistic missiles, asserting that the strikes will continue until the threat is eliminated.
This follows hours after the International Atomic Energy Agency reported that Iran was not complying with restrictions on enriched uranium for the first time in two decades.
RialCenter reported that Israel was contemplating a strike as a response. President Donald Trump mentioned that the U.S. would prefer a deal with Iran over conflict, warning that an attack could lead to a “massive conflict.”
On Polymarket, bettors were uncertain about the likelihood of a strike occurring, with the chance of Israeli action against Iran by July priced under 30 cents.
Traditional markets react
U.S. stock index futures are down about 1.5% on the news, with European market futures reflecting similar declines.
Bond prices, gold, and oil are on the rise. The 10-year Treasury yield has dipped two basis points to 4.32%, while gold has gained about 0.75% over the past hour to $3,428 per ounce. Crude oil has soared 9% to $74 per barrel.
The U.S. dollar is strengthening against the euro and British pound, but weakening against the yen and Swiss franc.
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