Bitcoin and Oil Rally as US Kills Iran’s Top General in Air Strike

In a stunning turn of events, Bitcoin (BTC) price swiftly reversed course and rallied 6.4%, reclaiming ground lost over the last 24-hours and briefly topping $7,288 before pulling back to $7,200.

Global oil prices have also rallied by nearly 3% in the wake of an airstrike at Baghdad’s airport ordered by United States President Donald Trump that has reportedly killed the head of the Iranian Revolutionary Guards’ elite Quds Force, General Qasem Soleimani.

Cryptocurrency market daily overview. Source: Coin360

Market analyst Michaël van de Poppe meanwhile reacted to the news commenting: 

“Yesterday everybody freaked out with a small drop. Now price is higher and euphoria starts again. 

But, the move of USA in Iraq, that should be more of a concern than a 2-3% move of $BTC.”

As suggested in the previous market update, a high volume spike pushed Bitcoin price to the Bollinger Band indicator’s moving average at $7,200 and into the 61.8% Fibonacci retracement level. 

BTC USD 6-hour…