As Israel launches extensive attacks on targets related to Iran's nuclear program, the cryptocurrency market, especially Bitcoin (BTC) and Ethereum (ETH) prices, experienced a sharp decline.
The tension in the Middle East escalated to a new level with Israel's comprehensive bombardment of nuclear facilities and ballistic missile centers in Tehran, Iran. Israeli Prime Minister Benjamin Netanyahu emphasized that the attacks would continue until Iran's ballistic missile and nuclear threats are eliminated. The International Atomic Energy Agency (IAEA) recently announced that Iran had violated its commitments regarding enriched uranium for the first time in 20 years, which affected the timing of the attacks.
Sharp decline in Bitcoin, Ethereum, and altcoins
With the increase in global risk perception due to the Iran-Israel tension, sharp sales were observed in the cryptocurrency market. Bitcoin (BTC) fell over 4% in the last 24 hours, dropping to the $103,000 level. Ethereum (ETH) also decreased to $2,468 with a drop of over 10%.
In major altcoins, the sell-off was even more severe. In most altcoins, price losses exceeded 10%, causing serious losses for investors. The short-term protective positions taken by investors in options against geopolitical tensions clearly reflected the market's concerns.
Geopolitical Risk and Crypto
The sudden rise in oil prices in global markets and the geopolitical uncertainty pushing investors to avoid risk has increased the selling pressure on cryptocurrencies. Analysts indicate that if tensions in the Middle East continue, market volatility may further increase. It is advised that cryptocurrency investors should be cautious in the short term.
Stay tuned for new developments.
