Bitcoin Down 3% from Previous Day, $110,000 Mark Further Away
Altcoins Including Ethereum See Even Larger Declines
KOSPI Down 1%, KOSDAQ Down 3%
Gold and Oil Prices Soar
Bitcoin, the leading cryptocurrency that surpassed the $110,000 mark last month and reached the so-called "dream milestone," fell to the low $104,000 range following news of war between Israel and Iran. Asian stock markets are also experiencing a downturn, led by the KOSPI index, while international oil prices have surged by more than 9% on expectations of future disruptions to oil supply chains. Gold futures, considered a safe-haven asset, are also showing gains of over 1%.
According to CoinMarketCap, a global cryptocurrency market tracking site, Bitcoin was trading at $103,930 as of 1:25 p.m. KST on June 13, down 3.34% from the previous day. Compared to one month ago, it is up 0.28%, and compared to one year ago, it has risen by 53.66%. Earlier in the morning, around 10 a.m., it had dropped to the $103,000 range.
Altcoins (cryptocurrencies other than Bitcoin) are also weakening. Ethereum, the leading altcoin, fell by more than 8% from the previous session, while other major cryptocurrencies such as Ripple (XRP), BNB, Solana, and Dogecoin are down between 2% and 9%. However, Tether and USDC are holding steady, showing slight gains within the 0% range.
Asian stock markets are also under pressure. The KOSPI index is currently down 1.37% at 2,879.98. The KOSDAQ index has dropped by 3.46% to 762.11. Japan's Nikkei 225 index is down 1.23%, while China's Shanghai Composite Index (-0.72%) and Hong Kong's Hang Seng Index (HSI) (-0.70%) are also weaker.
In contrast, oil prices have surged by more than 10% on expectations of significant disruptions to oil supply. Crude oil futures on the New York Mercantile Exchange (NYMEX) are currently trading at $74.47, up 9.41%. Oil prices at one point soared above $75. Gold, the representative safe-haven asset, is also on the rise. Gold futures on the New York Commodity Exchange (COMEX) are currently trading at $3,449.60, up 1.39% from the previous session.
It appears that the spread of anxiety in global asset markets due to news of war is causing safe-haven assets to rise while risk assets are declining.
The Israeli Air Force launched a preemptive strike targeting Iranian nuclear facilities and other sites in the early hours of the day. The Israel Defense Forces (IDF) announced the completion of the first phase of airstrikes, stating, "Dozens of Air Force jets have completed the first attack, which included dozens of military targets in various regions of Iran, including nuclear-related targets." As a result, Hossein Salami, Commander-in-Chief of Iran's Islamic Revolutionary Guard Corps, and two Iranian nuclear scientists were reported killed, according to the British daily The Guardian, citing Iranian state TV.
Israel had been preparing for weeks for an operation to destroy Iran's nuclear facilities, but had previously stated it would wait to see the outcome of President Trump's nuclear talks. The sixth round of U.S.-Iran talks is scheduled for June 15, but it is currently uncertain whether negotiations will continue.
Iran, which was hit by the surprise attack, has vowed a large-scale retaliation. According to the state-run IRNA news agency, Iran's Supreme Leader Ayatollah Seyyed Ali Khamenei declared on June 13 (local time) a firm policy of strong retaliation against Israel's preemptive strike on Iran's nuclear facilities and other sites.
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