Cryptocurrency prices tumbled after Iran launched missiles at Israel, with Ethereum briefly falling below $2,500 and Bitcoin dipping under $62,000. The global crypto market cap dropped 5.5%, reflecting broader investor concerns as equities also plunged.
Investors are fleeing risky assets like crypto and stocks for safer ones such as bonds and gold amid escalating geopolitical tensions in the Middle East. The missile attack follows Israel’s strikes on Iranian proxies, raising fears of further conflict.
This, combined with upcoming key economic data like the U.S. jobs report, has heightened market uncertainty.