The cryptocurrency market is plummeting due to escalating Middle Eastern tensions
The U.S. military event attacking Iran and the Iranian parliament's move to block the Strait of Hormuz have heightened the level of instability in the Middle East. According to SoSoValue data, the widespread impact has caused a comprehensive decline in the cryptocurrency market.
Bitcoin and Ethereum both drop in price
Bitcoin (BTC) is under strong corrective pressure, losing 1.38% in 24 hours, dropping to 101,000 USD, and even breaching the support level of 99,000 USD during trading. Ethereum (ETH) is also not spared from the impact, dropping 1.18%, losing the 2,100 USD mark.
Cryptocurrency segments show mixed volatility
The market overview reflects a downward trend, but there are still some bright spots:
The CeFi sector suffers a loss of 0.72%, however, OKB rises sharply by 4.95% as news emerges that OKX plans to IPO in the United States.
Hyperliquid (HYPE) records a 6.41% increase, standing out in the overall bearish trend.
Layer1 drops by 1.49%, with Sui (SUI) down by 3.72%, reflecting strong adjustments in infrastructure projects.
The Meme Token segment loses 1.79%, but Fartcoin (FARTCOIN) increases by 6.04%, showing strong volatility in trending Tokens.
DeFi drops by 1.94% but Four (FORM) reaches an intraday high of 9.21%, a bright spot in a gloomy atmosphere.
The PayFi and Layer2 segments continue to decline, losing 2.00% and 2.58%, respectively.
Overall Impact and Prediction
The geopolitical tensions in the Middle East have pushed the cryptocurrency market into a risk-off state, causing many investors to cautiously avoid high-risk assets. The current price movements reflect a high sensitivity to geopolitical developments and macroeconomic news.
This moment requires investors to closely monitor technical signals as well as new news to seize opportunities during deep corrections. In particular, the price increases of some prominent Tokens create highlights that can open opportunities for reasonable portfolio restructuring.
Source: https://tintucbitcoin.com/tien-dien-tu-sut-giam-manh/
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