US Iran War: Crypto Market Crashes As U.S. Airstrikes on Iran

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