NewsletterUS Iran War: Crypto Market Crashes As U.S. Airstrikes on Iran
Highlights
- US Bombs Iranian nuclear sites
- US president says more attacks possible if Iran doesn't accept peace.
- Crypto market has crashes as Bitcoin tumbles to $101k
In a shocking update today, US president Donald Trump posted that United States of America has bombde three Iranian nuclear facilities. The crypto market is crashing including large cap coin like Bitcoin and Ethereum both down by more than 5% in last on week.
US Bombs Iranian Nuclear sites, Crypto Market Tumbles
The ongoing conflict between Israel and Iran took a new turn with United states officially entering the ongoing war in the middle east. Earlier, US president Donald trump took to his X account and posted the news. He said that three Iranian sites were attacked namely, Fardo, Natanz and Esfahan. The US air fighters are not heading back to US.
The president later addressed the nation and warned Iran of far higher attacks. He reminded Iran that a large number of sites are still intact and may be attacked later if Iran does not make peace.
As expected Crypto prices are dropping sharply with Bitcoin down by 2% and Ethereum down by 7% in last 24 hrs. Bitcoin price briefly crashed to $101k as the news broke out. A reported by Coingape earlier, there was a possibility that Crypto price will fall sharply if US attacks Iran. The road ahead depends on Iran’s reaction as markets are in a wait and watch mode.
While the US president has warned Iran of any retaliations, there is still a chance that war can further escalate. There is a growing concern that other countries might enter the war including China and Russia. The next support for Bitcoin stays is at $92k-$94k range which is about 10% down from the current levels. This would mean huge sell offs for many altcoins.
What’s Next for Bitcoin and Crypto?
As per crypto trader, credible crypto X post, there is a chance that Bitcoin might jump first and then fall back. His analysis suggests that Bitcoin price has now tagged an area of support and should see some relief. He believes losing $102k would open the possibility to revisit the $98k-94k range marked in the chart below.
The markets remain highly volatile at the moment as any indication of peace will lead to a fresh interest from bulls while escalation may devastate the markets
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Peter Brandt Predicts Bitcoin Crash to $58K as Crypto Market Sell-Off Deepens
- FOMC Minutes: ‘Many’ Fed Officials Oppose Further Rate Cuts This Year, Bitcoin Falls
- Breaking: Bitwise XRP ETF Set To Launch Tomorrow, Bloomberg Analyst Confirms
- Breaking: December Fed Rate Cut Odds Fall as BLS Cancels October Jobs Report
- Strategy’s S&P 500 Bid Still Alive Despite MSTR Plunge Below Bitcoin mNAV
- Is Binance Coin Price at Risk of a Breakdown After this Bearish Pattern Formation?
- Chainlink Price Poised for a 30% Surge After TAO Ventures Joins Rubicon Launch
- HBAR Price at Risk of a 30% Dive as ETF Inflows Dry, Open Interest Falls
- Dogecoin Price Eyes Recovery Above $0.20 as Whales Scoop Up 27.4 Billion DOGE.
- FUNToken Price Shows Bullish Accumulation in a Weak Market : Time to Invest?
- Why Are CRO, STRK & MYX Prices Up Today?
