Bitcoin (BTC) pulled again sharply from its intraday excessive of $119,020 on Tuesday, July 16, after information broke of a major Israeli navy strike on the Syrian capital, Damascus.
The cryptocurrency, which had been buying and selling close to file territory, dipped to $118,593, as the worldwide market absorbed the implications of heightened geopolitical danger within the Center East.
The airstrike, broadcast stay on Al Jazeera, focused the Syrian Ministry of Protection. Footage captured large explosions close to central Damascus, with reviews confirming the assassination of three senior Syrian navy officers.
Enormous explosions have been seen in Damascus as Israel bombed Syria’s defence ministry throughout a stay Al Jazeera broadcast close by. pic.twitter.com/Fe7N6xH02I
— Al Jazeera English (@AJEnglish) July 16, 2025
The transfer marks a significant escalation in Israel’s southern marketing campaign, deepening regional instability at a time when world markets are already on edge from ongoing tariff wars and political volatility.
Bitcoin’s 24-hour buying and selling quantity stood at $78.34 billion, a major drop of 47.41%, suggesting diminished conviction amongst bulls following the geopolitical shock. Regardless of the decline, BTC retains a market cap of $2.35 trillion and stays just under all-time highs. Nonetheless, the sharp value response underscores Bitcoin’s evolving position not solely as a retailer of worth, but in addition as a risk-sensitive asset tied to world headlines.
Traditionally, Bitcoin has been considered as a geopolitical hedge in periods of forex debasement or monetary repression. However as institutional inflows develop and broader macro linkages deepen, sudden geopolitical escalations, particularly in energy-sensitive areas can result in blended responses.
Market watchers are actually intently monitoring whether or not this newest pullback is a brief response to war-related headlines or the beginning of a broader consolidation section. With Bitcoin nonetheless up greater than 90% year-to-date, a point of cooling wouldn’t be sudden. Key technical ranges to observe embrace assist round $116,500 and deeper demand zones close to $114,000, which coincide with the late June breakout vary.
