Against the backdrop of the conflict in the Middle East, bitcoin has lost less than altcoins.

On Thursday, 200 Israeli fighter jets headed to bomb nuclear facilities in Iran, and as a result of this attack, several Iranian military commanders were killed. The bloodshed spread to global markets, and on Friday, all stock indices fell. In this situation, Bitcoin lost less than altcoins.

As in any similar situation, investors rushed to buy gold, the price of which immediately increased by 1.45% and rose to $3430 per ounce, which is only $70 less than its record high price of $3500 at the end of April. Digital gold lost 2.8% in the last 24 hours, but it performed better than the entire cryptocurrency market, which fell by 3.7% (data Coinmarketcap).

In the last 24 hours, Bitcoin (BTC) has fallen by 0.6% and traded at $105,300, maintaining a weekly rise of 1%. The cryptocurrency traded in a wide range from $102,822 to $107,872, as increased volatility returned to the market, mainly due to the unfolding conflict in the Middle East.

TradingView Data

The trading volume rose to $73.20 billion, which is 38.22% higher than the previous day — this is how investors reacted to the unexpected price movement on Thursday. Bitcoin's market capitalization fell by 2.89% to $2.08 trillion, while its dominance rose by 0.64% to 64.79%.

BTC Dominance. Source: TradingView

On the derivatives market, open interest in futures has sharply fallen by 5.26% to $69.80 billion, indicating a reluctance among speculators to take risks. Data from Coinglass showed that bullish traders were at a loss: $1.61 million in long positions were liquidated compared to only $164,600 in short positions.

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