Bitcoin Prize shakes losses after Israel-Iran conflict
After the escalation of the Israel Iran conflict in the Middle East, the Bitcoin price corrected under $ 100,000 for a short time. The ceasefire already announced and the strong demand for digital gold supported the course-over the last week, a further USD 1 of USD flowed into US bitcoin ETFs. In the meantime, the Bitcoin price is again over 105,000.
Ethereum cannot keep up
In May, alternative cryptocurrencies – above all Ethereum with +40% – were finally able to gain a foothold. The “old coins” fled up Bitcoin for the first time in years. However, the relative strength did not last long. Ethereum (ETH) is already weakening again and in the month comparison at -4.2% compared to bitcoins -1.8%. The second largest digital asset after market capitalization remains over 50% from its all -time high at $ 4,900.
The price development of Ethereum compared to Bitcoin is clearly shown in ETH/BTC ratio. This currently lists at 0.228 – a multi -year low – and has been in a stable downward trend since September 2022. The development underlines the strong Bitcoin dominance of recent years. Billion purchases by levered investors such as Microstrategy from Michael Saylor and his imitator ensured strong tailwind at Bitcoin. Old coins, on the other hand, did not benefit from these institutional capital flows.
Red sea at the old coins
Over the past month, all crypto sectors have lost value – most in the double -digit percentage range. Bitcoin and the stock markets remained the most stable. Even in the week comparison, none of the top 20 cryptocurrencies after market capitalization could shine with green numbers. The most lost hyperliquid hype (-11.75%), Cardano (ADA -7.22%) and Ethereum ETH (-6.93%).
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Risk.
Plants and investments, especially in cryptocurrencies, are generally associated with risk. The total loss of the capital invested cannot be excluded. Cryptocurrencies are very volatile and can therefore be exposed to extreme price fluctuations in a short time.
