Conflict Israel-Iran Is Shifting Altcoin Season How?

The escalating conflict between Israel and Iran has long-term effects on the financial market, and cryptocurrencies are no exception. While Bitcoin has proven its ability to bounce back, trying to hold the price above $100,000, altcoins are under political pressure, performing significantly worse than the king of coins. Bitcoin's Market Share Growing While Ethereum and Altcoins Fall Behind Since June 13, after Israel carried out a major campaign against Iran, the dominance of Bitcoin has increased. Currently, it is at 65.30%, up nearly 1% since Israel's first attack. On the other hand, the altcoin market capitalization, excluding the top 10 coins, has decreased during the same period. OTHERS, the unit tracking the altcoin market share, continues to decline and is currently at $230.08 billion. At the same time, the ETH/BTC ratio has decreased, signaling that Ethereum—along with most altcoins—continues to perform less effectively compared to BTC. Even the king coin struggles to maintain its upward momentum, further weakening the overall altcoin market. All signs point to one conclusion: The Altcoin Season May Not Be Ready Yet. Bitcoin dominance increases as Middle East turmoil slows altcoin season In an exclusive interview with BeInCrypto, Agne Linge, Head of Growth at WeFi, confirmed that in times of global instability like this, it is not surprising that investors are shifting capital into assets they deem safer. “Normally, in global conflicts affecting political stability and macroeconomic stability, investors tend to transfer their capital from risky assets to assets considered as safe havens”, Linge explained. “Previously it was gold and Silver; however, at present we can see that Bitcoin is also acting as a digital safe haven”. According to Linge, when the conflict between Israel, Iran, and the United States continues to hold, this capital rotation can be seen from the decline of OTHER COUNTRIES. At the time of reporting, this figure is 230.71 billion dollars, down 12 billion dollars in ten days.

“The altcoin market capitalization, excluding the top 10 coins, has immediately decreased as the conflict escalates. This means that traders are reallocating their capital from altcoins to safer haven coins like Bitcoin and stablecoin”.

She also noted that the increasing dominance of BTC in the context of the ongoing conflict affirms the capital flow into this currency. Linge said: “BTC.D shows the dominance of Bitcoin over altcoins and it has increased since the conflict began”.