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Bitcoin Rebounds from Multi-Week Low as US-Iran Tensions Ease

Guavy AI Editorial Team
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Bitcoin's price plummeted to a multi-week low near $62,000 on Saturday evening following concerns about escalating tensions between the US and Iran. However, after US President Donald Trump announced that he canceled planned attacks against Iran, Bitcoin rebounded to $63,500 by Sunday morning.

The swift market reversal is attributed to the de-escalation of geopolitical tensions, which had been weighing heavily on cryptocurrency markets. The sudden change in sentiment led to a surge in prices across major assets, with Cardano's native token leading the pack with a 9% gain.

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