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Analyst: Bitcoin and Ethereum decline amid Middle East tensions
CryptoWorld News reports that on Tuesday, as traders reacted to tensions in the Middle East, the overall cryptocurrency market declined, with Bitcoin (BTC) dropping 1% from $80,984.66 at midnight UTC to $80,800, and Ethereum (ETH) falling 2% to $2,290. US stock index futures also declined after U.S. President Trump stated that a ceasefire agreement with Iran is “in critical condition,” causing Brent crude oil prices to rise to $107 per barrel, and the US dollar index (DXY) increased by 0.4%. However, Bitcoin remains above the key support level of $76,000, as stated by Tom Lee, chairman of Bitmine (BMNR), who said that if Bitcoin can stay above this level by the end of the month, it would confirm the end of the bull market. Most tokens performed poorly, but a small segment of the market, including CRO, Curve (CRV), and Toncoin (TON), rose against the trend by 5% to 10% over the past 24 hours. Widely watched crypto market indicators show that investors continue to favor Bitcoin over Ethereum, with risk appetite waning.