The Crypto market reflects significant losses as the US officially entered the Iran-Israel war late Saturday night. According to President Trump, the United States bombed Iran’s prominent nuclear sites, marking its first aggressive strike in the geopolitical conflict.
The crypto market has responded with a prominent liquidation of the entire Altcoin sector. Ethereum fell more than 5% after the news, trading below $2,300 for the first time in a month.
Cardano is also approaching its three-month low following the news. It’s down 6% today. AI Agent Coin was hit hardest as virtual and FET were immersed by nearly 10%.
Bitcoin is still above $102,500, but the indicator suggests that if more escalations are reported over the weekend, it could fall below the $100,000 psychological level.
Previously, Beincrypto analysts predicted that if the US took part in the Iran-Israel war, Bitcoin could fall 10%.
For now, the market is carefully considering Iran’s response. President Trump said the response from Iran would bring about further US action.
Overall, crypto liquidation is now over $670 million, and escalation could very well represent a short-term bearish cycle.
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