Cryptocurrency Market Plunges After Iran Attack on Israel: Bitcoin, Ethereum, and More See Sharp Declines

The cryptocurrency market took a hit on Saturday as news of Iran’s attack on Israel sent shockwaves through the digital asset space. Major cryptocurrencies like Bitcoin, Ethereum, and Solana saw significant declines, with some experiencing losses of up to 20%.

The drone attack, confirmed by Iran’s state media, was said to be in retaliation for a previous incident in Syria that resulted in the death of military generals, which Iran attributed to Israeli forces. This sudden escalation in geopolitical tensions had an immediate impact on the crypto market, highlighting the volatility and sensitivity of digital assets to external factors.

Bitcoin was trading at $63,522.30, Ethereum at $2,979.69, Solana at $137.31, Dogecoin at $0.1483, and Shiba Inu at $0.0000211 at the time of writing. Experts warned that further escalation could lead to a continuation of the crypto selloff, as leverage in the market has been overwhelmed in recent days.

Investors and stakeholders are closely monitoring the situation and waiting to see how the markets will react on Monday. The rapid movement in the crypto market serves as a reminder of the unpredictable nature of digital currencies and their susceptibility to global events.