$BTC The cryptocurrency market suffers heavy losses and 'Ethereum' drops by more than 9%

Cryptocurrency prices fell collectively during trading on Friday, led by Bitcoin as correction and profit-taking continued from record levels.

Investors shied away from high-risk assets amid fears of escalating geopolitical tensions following Israel's airstrikes on Iran in a new escalation of the war between them.

Bitcoin suffered heavy losses, dropping notably this morning to below $104,000, while smaller coins recorded even larger losses.

Bitcoin saw a decline of about 3.40%, reaching a price of $104,227, after it had recorded unprecedented all-time highs at the beginning of this month.

The market value of the world's most famous cryptocurrency dropped to $2.06 trillion, while its trading volume over the last 24 hours increased to $67.19 billion.

As for the prices of other cryptocurrencies, the price of Ethereum dropped by about 9.55% to $2,500, while Binance Coin lost approximately 2.93% of its value, trading at $646.

Cardano lost about 8.61% of its value, bringing its price to $0.6311, and the price of Ripple dropped by 5.36% to $2.1241, while Dogecoin's price fell by 8.83% to reach $0.173927.