Top Altcoins To Hold Amid Geopolitical Tension In Middle East
The cryptocurrency market prolonged its correction on April 13th as the geopolitical tension in the Middle East triggered selling pressure across finance markets. The Iranian attack on Israel initially caused panic among market participants leading to a notable downturn in the crypto market. In the last 24 hours, the Bitcoin price plunged 5% to currently trade at $64234, while top altcoins like Ethereum (ETH), Binance coin (BNB), and Solana (SOL) fell 7%. In the same period, Coinglass reports a total of 256,589 traders were liquidated, amounting to $962.4 million in losses, with the largest single liquidation of $8.46 million occurring on Binance for a BTC/USDT trade.Having said that, Bitcoin is often viewed as a macro hedge indicating that it absorbed much of the immediate aversion to risk. Thus, with the upcoming Bitcoin halving the crypto investor may find a suitable discount opportunity in top altcoins.
1) Ethereum (ETH)
2) Shiba Inu (SHIB)
3) Celestia (TIA)
The cryptocurrency market witnessed a notable outflow on the weekend attributed to the Bitcoin ETF outflow and geopolitical issues in the Middle East. The market FUD is currently accelerating this selling pressure indicating the potential for a prolonged downfall. However, the upcoming Bitcoin halving has kept the broader trend bullish.
