Bitcoin Rallies as Investors Ignore Middle East Tensions

Bitcoin's price has started to recover as investors look past ongoing tensions in the Middle East. As of July 9, the cryptocurrency is up 2% and trading at $63,200, building on a rally that began at the start of the third quarter.

This comes as technology stocks and digital assets see an influx of investment, with the Nasdaq Composite index rising 300 points or 1.16%. Bitcoin's price has been rangebound between $60,000 and $65,000 in recent weeks, but it appears to have bottomed at $58,000 at the end of June.

Despite this recovery, analysts continue to warn about potential downside risks for crypto, including higher interest rates and a lack of regulatory clarity in the U.S. Bitcoin's price has been cut in half from its all-time high of $126,000 reached last October.