The outbreak of war between Iran and Israel has caused major disruptions in the cryptocurrency market. As geopolitical tensions escalated, cryptocurrencies such as Bitcoin and Ethereum saw their value plummet. Bitcoin fell by around $6,000 in a few minutes, causing losses of an estimated $962 million, most of which came from trading centers that were counting on the price rise at the time. Ethereum and other crypto assets such as BNB and Solana also saw significant declines.
These declines indicate the sensitivity of the cryptocurrency market to geopolitical events, as investors rushed to get rid of crypto assets they consider high-risk and move to safer assets such as gold. For more, send some BTC and follow.
