$BTC The crypto market saw a major crash on Friday on the back of various factors, including geopolitical tensions, macro events, renewed Trump tariffs, Friday’s options expiry, and liquidation of leveraged positions. Bitcoin price fell to an intraday low of $102K, dropping more than 7% in two days. Also, Ethereum and XRP prices tumbled 10% and 7% over the last 24 hours.

The crypto market crash happened after Israel launched a preemptive strike against Iran, significantly heightening fears of broader conflict in the Middle East. The White House released a statement clarifying that the US played no part in Israel’s decision to strike Iran.

Oil and gold prices rally as tensions rise in the Middle East. Notably, JPMorgan warned that striking Iran could drive oil prices higher to $120 per barrel, pushing CPI inflation in the United States back to 5% from a recent 2.4% print.#ETH