The crypto market saw another significant decline. The market fell by 1.08%, primarily due to the US airstrike on Iran's nuclear sites.
Former US President Donald Trump confirmed on a platform called Truth Social that the US Air Force has attacked three significant nuclear sites in Iran – Fordow, Natanz, and Isfahan. He stated, 'We have successfully attacked all three nuclear sites in Iran. All aircraft have returned safely.'
What impact has this had on the market?
As soon as this news broke, fear spread in the crypto market. Investors quickly started withdrawing their money, leading to a drop in the prices of Bitcoin and other coins.
Bitcoin has dropped below $101,200
Ethereum fell to $2,240
XRP dropped by 3.1% to $2.03
Solana also fell to $132
This decline has erased all the gains made last week, and the small rally that was ongoing has stopped.
Some coins also performed well
However, while the entire market was down, some smaller and lesser-known altcoins performed surprisingly well.
Tokens like FUN, Aergo, and Flock also showed gains
This shows that some investors are now shifting their interest from large coins to smaller coins.
What could happen next?
The tension in the Middle East may escalate further. If Iran retaliates or more countries get involved, the market could decline further. Investors should remain cautious and manage their funds smartly.
Conclusion
The crypto market is very sensitive. It's not just trading data, but also political events happening around the world that determine its direction. In such times, it is important to trade wisely instead of panicking.
