Cryptocurrency Value Plummets to $103K Amidst $200 Billion Market Loss Following Israeli Attack on Iran

The cryptocurrency market has experienced a massive drop of more than $190 billion over the last 12 hours, causing total capitalization to decrease by over 7% to $3.36 trillion. This drastic decline follows news of an Israeli pre-emptive missile attack on Iranian nuclear sites, which prompted a state of emergency in Israel in anticipation of retaliatory actions.

Bitcoin and Ethereum took the hardest hit with Bitcoin rapidly dropping by $5,000 to bottom out at $103,000. Despite the significant market downturn, a bullish outlook remains, with experts suggesting the stability of Bitcoin as a safe haven during turmoil. This drop in crypto markets coincides with a surge in Brent crude oil prices and gold prices due to the fear of full-scale war.