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 threat within the Center East.
The airstrike, broadcast dwell on Al Jazeera, focused the Syrian Ministry of Protection. Footage captured huge explosions close to central Damascus, with stories 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 dwell 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 international 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 decreased conviction amongst bulls following the geopolitical shock. Regardless of the decline, BTC retains a market cap of $2.35 trillion and stays slightly below all-time highs. Nevertheless, the sharp worth response underscores Bitcoin’s evolving function not solely as a retailer of worth, but additionally as a risk-sensitive asset tied to international headlines.
Traditionally, Bitcoin has been seen as a geopolitical hedge in periods of foreign money 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 combined responses.
Market watchers at the moment are intently monitoring whether or not this newest pullback is a short lived response to war-related headlines or the beginning of a broader consolidation part. With Bitcoin nonetheless up greater than 90% year-to-date, some extent of cooling wouldn’t be sudden. Key technical ranges to look at embody help round $116,500 and deeper demand zones close to $114,000, which coincide with the late June breakout vary.
