The panic in the global risk markets triggered a second wave of declines this morning, with gold briefly dropping to $5,110 and Bitcoin plunging even more severely to $81,000.
(Background summary: Desperation! Bitcoin falls below 84,000, Ethereum crashes through 2,700, gold plunges and rebounds, but crypto liquidity remains scarce)
(Additional background: Iran’s Vice President warns: “We do not initiate war, but will respond decisively if invaded”! Bitcoin drops below $86,000, Ethereum dips below $2,800)
Last night (29th), Iran issued strong signals of military readiness amid escalating geopolitical tensions in the Middle East, causing intense volatility across global financial markets, with declines in precious metals, US stocks, and cryptocurrencies.
Spot gold plummeted from nearly $5,530 per ounce, breaking below the $5,150 level. After a rebound in the past few hours, it tested lows again shortly after 8:00, dropping to $5,110, but did not break the night’s low. Does this indicate a short-term reversal? Further observation is needed.
Gold spot price
Silver also declined in tandem with gold, dropping to a low of $108 per ounce, with a decline of over 6% in the past three hours.
Silver spot price
Cryptocurrency markets experienced even deeper declines. Bitcoin briefly rebounded to $84,000 this morning but then plunged again, with a low of $81,000. Before press time, it slightly recovered to around $82,000. If it cannot stabilize, the next target could be the high $70,000s for BTC.
According to Coinglass data, in the past 24 hours, a total of 270,022 traders were liquidated worldwide, with total liquidation amounting to $1.68 billion.
Iran’s Statement:坚持防御、准备战爭
Iran’s Vice President Araghchi publicly stated last night that since the current government took office, Iran has maintained a state of military readiness. He emphasized that Iran will not initiate war but will defend itself decisively if attacked, ensuring that the course of the war remains out of enemy control.
Araghchi pointed out that although Iran advocates dialogue and rationality, once conflict erupts, the outcome will no longer be in the opponent’s control. Regarding negotiations, he clearly stated that Iran is willing to engage in dialogue, but conditions must include “genuine and reliable guarantees.”
On the same day, Iran announced it will hold military exercises in the Strait of Hormuz from February 1 to 2, including live-fire drills. Although the official has not disclosed the specific scale and arrangements of the exercises, this move could impact international shipping and energy transportation.
A series of military actions have heightened regional conflict risks, keeping risk markets in a state of high uncertainty.
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