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Crypto markets split on Tuesday as the United States struck what officials described as "multiple targets" in Iran, a geopolitical shock that left Bitcoin ($BTC) and Ethereum ($ETH) largely unmoved while XRP and Dogecoin ($DOGE) pulled lower.
Adding a cautionary note to any nascent recovery narrative, an analyst pointed to on-chain data suggesting Bitcoin has not yet reached a cyclical bottom.
Geopolitics as the Macro Trigger The US military action in Iran supplied the clearest external variable for Tuesday's price action.
Historically, hard geopolitical events create a brief flight to perceived safety, compressing risk appetite across asset classes — and crypto, despite periodic claims of being a haven, has tended to track sentiment rather than defy it.
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