Bitcoin and broader crypto market sink as Israel launches airstrikes against Iran
Bitcoin and the rest of the encryption market fell on Friday morning after Israel launched a series of air strikes against Iran, which represents a major escalation in the ongoing conflict in the Middle East.
Bitcoin has decreased by 2 % in the past 24 hours, according to Binance, as it decreased from $ 107,000 to a decrease of $ 103,000 a little before the bounce. The total market value of the encryption market decreased by 3 %, as ETHEREUM and Solana decreased by 7 % and Dogecoin by 6 %.
The threat of the war between Israel and Iran has sparked investors to flee the cryptocurrencies because they are volatile and are considered risky assets at times of uncertainty. The conflict between the two countries also raised fears that Iran may decrease by closing the Strait of Hormuz, which connects the Persian Gulf to the Arabian Sea and facilitates the shipping of 20 % of global oil shipments, according to the US Energy Information Administration.
If this happens, the price of oil will rise and expand investors of risky assets, such as Crypto, to protect the value of their assets. “The oil will witness a huge rise, and the origins of the risk will fall from the cliff,” he says.
Israel’s blow to Iran targeted the country’s nuclear sites, missile facilities, air defenses, and the killing of Iranian higher officials and nuclear scientists. Israeli Prime Minister Benjamin Netanyahu said the strikes are an attempt to eliminate Iran’s nuclear capabilities, and what he called an existential threat to Israel in a video statement on Friday.
“This process will continue for several days what it takes to remove this threat,” he said.
Israel’s strikes came after the International Atomic Energy Agency, an organization within the United Nations, which focuses on nuclear technology, on Thursday that Iran does not comply with New York Times.
president Donald Trump came to support the strikes on Friday, saying in a post on the social truth that the attacks will become “more brutal” if Iran does not agree to an agreement on the nuclear weapons program. “Iran must make a deal, before there is nothing,” the president wrote.
The Iranian Supreme Leader, Ayatollah Ali Khameneini, promised revenge on Israel, where he wrote in a position about X that the nation “must expect a severe punishment.”
This story was originally shown on Fortune.com
2025-06-13 15:57:00
