Tehran (TDI): The cryptocurrency market witnessed a sharp decline as Bitcoin and major altcoins tumbled following Israel’s military strikes on Iran.
Bitcoin (BTC) fell by 2%, revisiting its support level of $65,500, while altcoins such as Ethereum, BNB, SOL, and XRP dropped between 3-6%.
The heightened geopolitical tension in the Middle East, marked by Israel’s targeted airstrikes on Iranian military sites early Saturday, has sparked investor caution across risk-sensitive assets, including cryptocurrencies.
Also Read: Israel Launches Airstrikes; Explosions Rock Iran
According to reports, multiple explosions were heard in Tehran, adding to the volatility.
While this recent market dip is reminiscent of similar turbulence in April, when Bitcoin fell by over 4% following previous Israeli strikes on Iran, analysts suggest the current decline may be short-lived.
Also Read: Israeli Strikes Thwarted, Caused Limited Damage: Iran
Historically, BTC and other digital assets have shown resilience, often rebounding within hours following geopolitical shocks.
Farkhund Yousafzai is an Associate Editor at The Diplomatic Insight.
