Bitcoin, Ethereum Flat, While XRP, Dogecoin Dive Amid US-Iran Tensions: Analyst Compares Current Downturn To 2022, Forecasts BTC At $51,000 - Grayscale Bitcoin Mini Trust (BTC) (ARCA:BTC)

Cryptocurrency Market Overview - Leading cryptocurrencies experienced weakness, with Bitcoin fluctuating between the high $65,000s and low $68,000s, while Ethereum remained under $2,000 with low volatility [2][3] - The global cryptocurrency market capitalization decreased by 1.91% to $2.32 trillion [4] - Over $220 million was liquidated from the market in the last 24 hours, primarily from long positions [2] Market Sentiment and Trends - Bitcoin's open interest rose by 1.31%, indicating a potential buildup of short positions and reflecting bearish sentiment in the market [3] - The Crypto Fear & Greed Index indicated an "Extreme Fear" sentiment prevailing among investors [3] Stock Market Performance - Stocks rallied sharply, with the Dow Jones Industrial Average increasing by 129.47 points (0.26%) to close at 49,662.66, and the S&P 500 rising by 0.56% to 6,881.31 [5] - Defense-related stocks saw significant gains following reports of the Trump administration moving closer to a military operation against Iran, with SPDR S&P Aerospace & Defense ETF and Global X Defense Tech ETF closing up 1.76% and 2.56%, respectively [5][6] Precious Metals Market - Precious metals remained range-bound, with spot gold trading down 0.33% at $4,961 per ounce and spot silver down 0.74% at $76.61 per ounce [6] Analyst Predictions for Bitcoin - Analysts are divided on Bitcoin's future, with some forecasting further declines to at least $51,000, while others anticipate a significant upward movement following a period of low volatility [7] - One analyst expressed intentions to buy heavily if prices dip, while planning to take profits if Bitcoin tests the $80,000-$85,000 range [8]