The CIO at Mekle Tree Capital, Ryan McMillin, mentioned that the recent tensions between the nations is shaking the crypto, stocks, and the oil market.
The recent explosion has ignited debate among investors. Following Israel’s airstrikes against targets in Iran, the price of Bitcoin fell nearly 4% from $108,500 to $103,500, as per the data from CoinMarketCap. Israel revealed that the strikes were targeted at Iranian military infrastructure near Tehran and Tabriz. The country described it as a preemptive response to increasing threats. On June 12, the Prime Minister of Israel, Benjamin Netanyahu, during the press briefing, mentioned that the nuclear targets of Iran are a clear and present danger, asserting a preemptive response would be carried out as long as it takes to eliminate this threat.
The Defense Forces of Israel released a statement in which they mentioned that for years, Iran has been encouraging terrorism directly and indirectly against the State of Israel, funding and directing terrorist operations via its proxies across the Middle East, while proceeding toward nuclear weapons.
The Situation Can Be Reversed
The force further mentioned that currently, Iran is closer than ever to purchasing nuclear weapons. A weapon holding the power of mass destruction in the hands of the Iranian authority constitutes an existential threat to the State of Israel and a major threat to the whole world.
There has been no official response released by Iran yet, but the local media reported explosions and disruptions to air traffic in affected areas. This step is taken after a high-level meeting between Israeli defense officials and U.S. counterparts. Also, the US has not commented on the matter till now, but revealed that it was overseeing the situation closely. The CIO at Mekle Tree Capital, Ryan McMillin, mentioned that the recent tensions between the nations is shaking the crypto, stocks, and the oil market, but we have witnessed the same phenomenon before.
He further went on to add that in previous strikes, weekend sell-offs in the industry were witnessed, and it got reversed when the situation de-escalated. Those moments were a great opportunity to buy the assets. The recent explosion has ignited debate among investors.