Bitcoin continues to rise, recovers from severe impact of Iran-Israel military conflict

ISTANBUL

Bitcoin's price, recovering from the severe impact of the ongoing Iran-Israel military conflict, continued its rise on Monday.

The largest cryptocurrency, which has recently approached its record level of $111,970, lost around 1% on Friday due to the tension in the Middle East.

The latest escalation follows Israeli strikes Friday on Iranian nuclear and missile facilities, prompting Iran to retaliate with ballistic missiles that caused Israeli casualties and property damage.

On Monday, the price of Bitcoin rose by 3.1% as of 0650GMT to $106,700.

Its trading volume increased by 13.67% in the last 24 hours, reaching $40.46 billion.

Meanwhile, Ethereum, which lost around 4% on Friday, recovered 5% to $2,619.92 on Monday, CoinMarketCap data showed.