The US has bombed three Iranian nuclear facilities, and more attacks are possible if Iran does not accept peace. The news sent the crypto market crashing with the price of BTC falling to the $102k level.
In a shocking update today, US President Donald Trump posted that the US had bombed three of Iran's nuclear facilities. The crypto market is crashing with major coins like Bitcoin and Ethereum down more than 5% in the last week.
US Bombs Iranian Nuclear Sites, Crypto Markets Upset
The ongoing conflict between Israel and Iran took a new turn when the US officially entered the ongoing war in the Middle East. Earlier,
US President Donald Trump had posted this news on his X account. He said that three Iranian sites were attacked, including Fordow, Natanz, and Isfahan. US Air Force fighter jets are not returning to the US.
The president later addressed the nation and warned Iran of more attacks. He reminded Iran that a large number of sites were still intact and could be attacked later if Iran did not make peace.
As expected crypto prices are falling sharply with Bitcoin down 2% and Ethereum down 7% in the last 24 hours.
Bitcoin briefly fell to $101k as the news spread. An we reported earlier its suggested that the price of crypto would drop sharply if the US attacked Iran. The path forward depends on Iran’s response as markets are in a wait-and-see mode.
Although the US president has warned Iran against any retaliation, the possibility of further escalation of the war still exists.
There are growing fears that other countries, including China and Russia, could also enter the war. The next support for Bitcoin to establish is at the $92k-$94k range which is about 10% below current levels. This would mean a huge sell-off for many altcoins.
What's Next for Bitcoin and Crypto?
According to crypto trader, the reliable CryptoX Post, there is a possibility that Bitcoin may jump first and then fall back.
His analysis shows that Bitcoin price has now tagged the support area and should see some relief. He believes that a loss of $102k would open the possibility of a retracement to the $98k-94k range marked in the chart below.
Markets are extremely volatile at the moment as any sign of peace will lead to fresh interest from the bulls while a rally could destroy the markets.