#IsraelIranConflict

The escalating Israel-Iran conflict has significantly impacted the cryptocurrency market, leading to a widespread sell-off. Bitcoin and Ethereum, the two largest cryptocurrencies, have experienced substantial declines, with Ethereum plummeting by around 11% and Bitcoin dipping to $103,000. This "risk-off" sentiment drives investors to traditional safe-haven assets like gold and the US dollar, causing cryptocurrencies, often seen as risk-sensitive, to fall. The market's volatility is amplified by geopolitical uncertainty, leading to significant liquidations in the derivatives market. While some analysts see these dips as buying opportunities, the immediate outlook remains bearish, tied to global risk sentiment.