The attack by the US and Israel against Iran sinks Bitcoin ($BTC ), XRP, and Ethereum.
Bitcoin experienced a sharp decline, dropping by 4.2% and trading around $62,938 in the hours following reports of the attack. The cryptocurrency market as a whole lost approximately $128 billion in capitalization. Some analyses suggest that Bitcoin, despite its narrative as "digital gold," behaves more like a high-risk growth asset (risk-on) during times of military conflict, leading investors to seek more traditional havens such as cash or gold.
Ethereum ($ETH ), the second-largest cryptocurrency, also suffered a significant setback, falling by 5% to $1,783. In some instances, Ether dropped as much as 7.7% in a single day.
XRP $XRP , along with other altcoins like Solana, experienced declines of up to 10% following the news of the geopolitical escalation.
Bitcoin experienced a sharp decline, dropping by 4.2% and trading around $62,938 in the hours following reports of the attack. The cryptocurrency market as a whole lost approximately $128 billion in capitalization. Some analyses suggest that Bitcoin, despite its narrative as "digital gold," behaves more like a high-risk growth asset (risk-on) during times of military conflict, leading investors to seek more traditional havens such as cash or gold.
Ethereum ($ETH ), the second-largest cryptocurrency, also suffered a significant setback, falling by 5% to $1,783. In some instances, Ether dropped as much as 7.7% in a single day.
XRP $XRP , along with other altcoins like Solana, experienced declines of up to 10% following the news of the geopolitical escalation.