Iran–US–Israel Tensions Spark Crypto Market Chaos

The U.S. bombed three Iranian nuclear sites on June 22, joining Israel’s campaign.

Iran vows retaliation and may shut the Strait of Hormuz, which accounts for 20% of global oil trade.

Tensions are escalating while diplomacy is on pause.

Bitcoin dropped below $100K, and Ethereum fell by approximately 10%.

Over $240 billion has been wiped from the total crypto market.

Extreme volatility is evident across all major altcoins.

Iran’s top exchange, Nobitex, was hacked, resulting in a loss of around $100 million, possibly related to a cyberattack.

An escalation of war could lead to increased fear and sell-off in crypto.

Oil price spikes are applying more pressure on risk assets.