The cryptocurrency market experienced significant losses as the United States officially entered the war between Iran and Israel late Saturday night. According to President Trump, the U.S. bombed prominent nuclear sites in Iran, indicating its first actual strike in this geopolitical conflict. The cryptocurrency market responded with notable sell-offs across the altcoin sector. Ethereum fell over 5% after the news, trading below $2,300 for the first time in a month.
Cardano has approached its lowest level in 3 months after the news - down 6% today. AI agent coins suffered the biggest hit, with VIRTUAL and FET dropping by nearly 10%.
Cryptocurrency market sell-offs after U.S. strikes on Iran. Source: Coing, lass
While Bitcoin still maintains a level above $102,500, indicators suggest it could drop below the psychological level of $100,000 if more escalations are reported over the weekend.
Previously, BeIn, Crypto analysts predicted that Bitcoin's price could drop by 10% if the United States entered the war between Iran and Israel.
Currently, the market will cautiously monitor Iran's reaction. President Trump stated that any response from Iran will lead to further U.S. actions.
Overall, cryptocurrency sell-offs exceeded $670 million today, and further escalation may indicate a short-term bearish cycle.
