The ongoing war between the US and Iran continues to suppress risk appetite, with Bitcoin dropping nearly 5% over the week

Multiple analysts have compared this round of movement to the Bitcoin market during the Russia-Ukraine war in 2022. At that time, Bitcoin experienced a 24% rebound after a decline at the beginning of the war, but subsequently fell another 64% by November of that year.

Crypto analyst Finish believes that Bitcoin will struggle to achieve a significant rebound before the situation in Iran stabilizes, setting the price bottom target at around $55,000.