Under the dual pressures of inflation and geopolitics, global risk assets experienced a significant decline last night.
According to The Wall Street Journal, after Israel’s airstrike on the Iranian embassy in Syria on April 1st, Iran threatened retaliation against Israel. US intelligence indicates that Iran may launch an attack on Israeli territory over the weekend. This would be the most serious escalation in the region since the outbreak of the Israel-Hamas war in October last year. This news has led to an increase in oil prices, further exacerbating market concerns about inflation and putting pressure on already uncertain markets.
In addition, geopolitical risks have sparked risk aversion among market investors. The price of gold has soared, with prices reaching over $2,400 per ounce at one point, while US stocks and cryptocurrencies saw a significant decline last night.
The cryptocurrency market has been hit particularly hard. According to Coinglass data, a total of 297,497 people were liquidated in the past 24 hours, with a total liquidation amount of $930 million, of which the liquidation amount for long positions exceeded $800 million. Although the declines in Bitcoin and Ethereum were not significant, the negative news triggered the long-suppressed bearish sentiment in altcoins, with almost all altcoins experiencing a nearly 20% pullback last night.
(This article is authorized to be reproduced from GT Radar)
About GT Radar
GT Radar focuses on building long-term, stable growth quantitative investment portfolios and has over 10 years of experience in stock and cryptocurrency quantitative trading. The trading system integrates over 150 strategies, aiming to provide high adaptability and flexibility to ensure profits are obtained from the market in the most robust manner.
Join GT Radar discussion group
Weekly market analysis reports
