Crypto sells off sharply amidst reports of Iranian drone attack on Israel
Recent news of an impending attack by Iran against Israel has led to a significant selloff in Bitcoin and other cryptocurrencies.
The price of Bitcoin, which peaked today around $68,000, has fallen sharply in the last hour to reach a price of about $62,000 as of 4:50 pm ET, according to The Block's Price Page , a selloff of nearly 8%. Ethereum likewise saw a 9% drop to about $3,000, while other tokens like BNB and Solana saw double-digit percentage declines.
As a whole, the crypto market is down 8% on the day, according to The Block's data. While the geopolitical events aren't tied directly to crypto, traditional markets are closed on Saturday, leaving it unclear how traders of other asset classes will respond to the news.
This is a developing story.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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