Crypto markets took significant losses as the US officially entered the Iran-Israel war on Saturday night. According to a tweet from US President Donald Trump, the US bombed prominent nuclear sites in Iran, signaling its first proactive strike in the geopolitical conflict.
Crypto markets responded with notable liquidations across the altcoin sector. ETH fell more than 5% on the news, trading below $2,300 for the first time in a month.
Additionally, Cardano (ADA) is approaching a three-month low on the news – down 6% today. AI agent coins took the biggest hit, as VIRTUAL and FET fell nearly 10%.
While Bitcoin remains above $102,500, indicators suggest that the price could slide below the psychological $100,000 level if there are further reports of escalating tensions over the weekend.
Analysts previously predicted that Bitcoin could fall 10% if the US enters the Iran-Israel war.
As of now, the market will be cautiously watching Iran’s response. President Trump has said that any response from Iran will lead to further action by the country.
Overall, crypto liquidations exceeded $670 million today, and further tensions could very well signal a short-term bearish cycle.
