News

Crypto plunges amid recession fears and market sell-off

Published

2 years ago

August 5, 2024

Ahron Young

Bitcoin and Ether plummeted to multi-month lows as concerns over a potential U.S. recession and weak economic data rattled financial markets, leading investors to seek safe-haven assets.

Earlier this year, the crypto markets received a boost when the U.S. Securities and Exchange Commission approved an exchange-traded fund tracking the spot prices of Bitcoin and Ether.

However, recent market dynamics have shifted dramatically.

Looming recession

Bitcoin, along with global equities, has suffered in a broad selloff driven by fears of a looming U.S. recession and rising geopolitical tensions.

Since hitting a record high in March, Bitcoin has lost over a third of its value.

Tony Sycamore, a market analyst at IG, commented, “It’s a big reminder that Bitcoin and crypto in general are risk assets and sit at the pointy end of the risk spectrum.”

On Monday, Bitcoin fell 13% from its Sunday close to $51,560, marking its largest one-day decline since November 2022 and its lowest level since February.

Research Analyst Matteo Greco says “The negative market trend is likely influenced by several macroeconomic factors.”

“The Bank of Japan (BOJ) recently raised interest rates for the first time in 17 years due to concerns over the Yen’s declining purchasing power against the US Dollar.”

“The BOJ also signaled that further rate hikes could be on the horizon, if necessary, which was viewed negatively by risk-on asset markets, triggering widespread selloff.”

Ether sell-off

Ether dropped 17% to $2,277, its lowest point since mid-January.

Sycamore noted that Bitcoin was testing trend channel support in the $54,000 to $53,000 range and needed to hold at that level to “prevent further capitulation towards $48,000.”

Shares of U.S. crypto-related stocks listed in Frankfurt also took a hit in early trading on Monday.

Coinbase fell over 18%, while shares in mining companies Riot Platforms and Marathon Digital dropped by 17.7% and 20%, respectively.

News

Iran live updates: Trump Says Iran strikes to continue for four to five weeks

Published

24 hours ago

March 2, 2026

Ahron Young

What’s happening in the Middle East?

President Donald Trump says Iran’s Supreme Leader Ayatollah Ali Khamenei has been killed, with Iran now entering a transitional period under a three man leadership council
Trump says U.S. strikes on Iran could last four to five weeks, outlining objectives including destroying missile capabilities, dismantling Iran’s navy and preventing it from obtaining a nuclear weapon
The U.S. military confirms four American service members have been killed, and the White House says U.S. forces have destroyed and sunk nine Iranian naval ships
Iran says it sees “no limit” to its right to self defence and will not negotiate, as missile and drone attacks continue across Israel and Gulf states
More than 500 Iranians have been killed in U.S. and Israeli strikes, with additional deaths reported in Lebanon, Israel and the UAE
Shipping, aviation and energy markets have been disrupted, Qatar has halted LNG production, UAE stock markets have closed temporarily, and oil and gas prices have surged

News

Israel strikes Tehran anew as conflict escalates and global markets react

Israel strikes Tehran after Khamenei’s death; U.S. warns of prolonged conflict as tensions escalate in the Middle East.

Published

24 hours ago

March 2, 2026

Harvey Vargas

Israel strikes Tehran after Khamenei’s death; U.S. warns of prolonged conflict as tensions escalate in the Middle East.

Israel has launched a new wave of strikes on Tehran, following the reported killing of Iran’s Supreme Leader, Ali Khamenei. U.S. President Donald Trump has warned the campaign could last up to a month, framing the operation as a move to prevent Iran from acquiring nuclear capabilities.

Iran has retaliated with missile attacks, while its Revolutionary Guards claim responsibility for assaults on oil tankers in the Gulf. The escalating hostilities are already disrupting global shipping lanes and air travel, sending shockwaves through international markets.

With reports of the first U.S. casualties emerging and Washington declaring the Tehran operation a success, tensions across the Middle East are intensifying rapidly. The question now is how far this conflict could spread — and at what cost.

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News

U.S. and Israel strike Iran as missiles hit Gulf bases and oil surges

U.S. and Israel launch major military operation against Iran; tensions rise as conflict escalates, impacting global markets.

Published

2 days ago

March 1, 2026

Ahron Young

U.S. and Israel launch major military operation against Iran; tensions rise as conflict escalates, impacting global markets.

The United States and Israel have launched a sweeping military operation against Iran, striking leadership targets and more than 500 military sites in what President Trump has dubbed Operation Epic Fury.

Explosions have rocked Tehran, with civilians fleeing the capital as U.S. sea and air assets carry out sustained attacks. Washington says the mission is designed to prevent a nuclear armed Iran and has even called on Iranians to rise up against the regime.

Iran has retaliated with a barrage of missiles and drones targeting Israel and U.S. bases across the region, including in Qatar, Kuwait, the United Arab Emirates and Bahrain. While many projectiles were intercepted, a U.S. base in Bahrain sustained damage.

Gulf states long seen as stable hubs for global business are now directly in the firing line, raising fears of a wider regional war.

Oil prices are climbing and tankers are diverting from the Strait of Hormuz as markets react to the escalating conflict. U.S. aircraft carriers, advanced fighter jets and missile destroyers remain in position, signalling more strikes could follow.

With global leaders scrambling diplomatically, the world is watching to see whether this spirals further or shifts back to negotiations.