The conflict between Israel and Iran has had an immediate impact on global financial markets, including the crypto world. The price of bitcoin (BTC) plummeted below $104,000 on June 12, in a market reaction to the Israeli airstrike against Iran, a piece of geopolitical news with significant impact.

This drop reflects how bitcoin, despite its decentralized nature, is still perceived by many as a risk asset that responds to market dynamics similar to those of other traditional financial assets, such as stocks or bonds, especially in times of global uncertainty.