Geopolitical Shock: U.S.–Iran Conflict Sends Crypto Markets Tumbling
The crypto market faced a sharp and sudden decline as rising tensions between the United States and Iran unsettled global investors. The situation intensified after U.S. airstrikes targeted Iranian nuclear facilities, raising fears of military escalation in the region. In response, investors rushed to safer assets, triggering a steep sell-off in cryptocurrencies. Bitcoin slipped over 4%, while Ethereum plunged more than 7%, wiping billions from the market. At the same time, a high-profile cyberattack hit Iran’s largest exchange, Nobitex, causing nearly $100 million in damage and further shaking investor confidence. With over $700 million in crypto positions liquidated in just hours, this combination of geopolitical conflict and cyberwarfare has created a perfect storm for crypto volatility. Until there’s a clear sign of de-escalation, the market is likely to stay under heavy pressure.