#IsraelIranConflict The recent escalation in tensions between Israel and Iran has significantly impacted the cryptocurrency market, triggering widespread volatility. Bitcoin (BTC) prices plummeted over 3%, with a sharp decline to around $102,513 before recovering slightly to $104,668. Other cryptocurrencies, such as Ethereum (ETH) and XRP, also experienced losses, with ETH testing support at $2,500 and XRP hovering around $2.13.

*Key Effects of the Conflict:*

- *Increased Volatility*: The conflict has led to a surge in liquidations, with over $446 million wiped out in the last 24 hours, primarily affecting long-position traders.

- *Risk-Off Sentiment*: Investors have shifted towards safe-haven assets like gold, which has rallied to $3,400, a record high driven by safe-haven demand.

- *Market Uncertainty*: The conflict's outcome remains uncertain, and potential further escalation could lead to continued market fluctuations ¹ ².