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

US has bombed three Iranian nuclear facilities with more attacks possible if Iran doesn't accept peace. The news has crashed crypto market with BTC price falling to sub $102k levels.
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US 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.

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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.

Source: Trading view, Crypto market crash, US Bombs Iran

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.

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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.

Source: Credible crypto X, What’s next for crypto after US Bombs Iran

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

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Sunil Sharma

Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on X at @sharmasunil8114 and reach out to him at sunil (at) coingape.com

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