The Hamas-Israel war is getting more serious, BTC is at risk of being 'trapped'!

<p>&nbsp;"Hmm, if BTC suddenly goes down, where will it go?"</p><p><br /></p><p>The effects of a war in the Middle East that could spill over into the entire cryptocurrency market could cause risky assets like Bitcoin (BTC) to face significant plunges in the short term.</p><p><br /></p><p>The conflict that broke out last Saturday has continued into the fourth day when there was a surprise attack from Hamas on the southern cities of Israel, where the death toll for both sides is almost 1,600.</p><p><br /></p><p>According to Greta Yuan, head of research at digital asset platform VDX said that global markets are worried that the conflict will affect nearby oil-producing countries, so investors are still in a sensitive state.</p><p><br /></p><p><br /></p><p>In the last two days, the crypto market declined 2% as traders focused more on oil, but it should be noted that traditional equities have seen a decline as the war could affect international trade.</p><p><br /></p><p>Higher-priced futures traders saw more than $100 million in liquidations in the 24 hours from Monday, but the crypto market was able to hold its ground despite various headwinds.</p><p><br /></p><p>However, some traders are of the view that investors at this time should keep an eye on the changing oil and energy markets to see where BTC is headed.</p><p><br /></p><p>This is because the rise in oil prices can trigger selling momentum in equities further fueling expectations of a tighter monetary policy, and this means crypto markets including BTC face the greatest risk.</p><p><br /></p><p>As of this writing, BTC price has plunged by 0.56% to $27,432 in the last 24 hours with a market cap of $535 billion but is still up 0.44% over the past week.</p>