The total value of the cryptocurrency market dropped by nearly $80 billion in the last 24 hours following reports of new US military strikes on Iran. According to reports, the US military targeted an Iranian military facility and four drones that could pose a threat in the Strait of Hormuz on Wednesday evening. Officials stated that these actions were defensive in nature and aimed at maintaining the ceasefire. This is reported by Cointelegraph.com reports .
In response, Iran's Islamic Revolutionary Guard Corps announced it had attacked a US airbase in Kuwait. This tension arose after Donald Trump stated at a White House meeting that he was dissatisfied with the agreement with Iran and that military actions could continue. As a result, markets that had risen earlier in the week on hopes of a peace deal began to decline sharply.
The price of Bitcoin fell by 3.5% in one day, reaching $72,646 on the Coinbase exchange. This is the lowest level since mid-April. According to Nick Ruck, director of LVRG Research, investors are trying to move to safe-haven assets, taking into account geopolitical risks and disruptions in oil supply. He noted that Bitcoin and Ethereum are currently behaving like high-risk assets rather than defensive ones.
Ethereum (ETH) also lost more than 4% of its value against the backdrop of the strike news, falling below the psychological $2,000 threshold to $1,976. In contrast to the decline in the crypto market, crude oil prices rose sharply. WTI crude exceeded $92, while Brent reached $98 per barrel.
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