The Israel–Iran war, especially after U.S. airstrikes on Iran’s nuclear sites, has caused panic in global markets—including crypto. Bitcoin and Ethereum prices have dropped sharply as investors pull back from risky assets amid war fears and rising oil prices. Crypto is currently behaving more like a volatile tech stock than a safe haven, with altcoins hit even harder. If the conflict escalates, further declines are likely, while a ceasefire could spark a quick recovery. For now, uncertainty and fear are driving short-term bearish sentiment across the crypto market.