Bitcoin and other cryptocurrencies fall sharply following Iran's drone attack on Israel.
The cryptocurrency price dropped from around $67,000 to $61,625, wiping out over $130 million in market capitalization within minutes following the attack.
According to Bloomberg, Iran launched drones toward Israel on Saturday. The move is a retaliation for an attack conducted by Israel days before. Israel attacked a diplomatic compound in Damascus, Syria, killing seven Iranians, including two generals.
The conflict between Iran and Israel significantly escalates tensions in the region, something the U.S. has been reportedly trying to prevent since October’s Israel-Hamas conflict.
“We were not aware that Israel was going to carry out this airstrike in advance,” the official stated. “Minutes before it happened and when Israeli planes were already in the air, Israel reached out to a U.S. official to say they were in the process of conducting a strike in Syria. It did not include any details on who they were targeting or where it would be conducted, and the strike was already underway before word could be passed through the U.S. government.”
