Today, the cryptocurrency market, including major players like Bitcoin and Ethereum, experienced a significant downturn following reports from the Israeli military regarding Iran’s alleged launch of “dozens” of drones towards their territory.
Bitcoin, which reached a peak of approximately $68,000 earlier in the day, plummeted by nearly 8% within the last hour alone, settling around $62,000 as of 4:50 pm ET according to data from The Block’s Price Page. Ethereum mirrored this trend with a 9% decline, hovering around $3,000, while other tokens such as BNB and Solana also witnessed double-digit percentage drops.
Across related indices, including GMDEPIN, GMMEME, and GMDEFI, decreases of 5.78%, 5.95%, and 6.92% respectively were recorded.
Overall, The Block’s data shows an 8% downturn in the crypto market for the day. While these geopolitical events aren’t directly linked to cryptocurrencies, with traditional markets closed on Saturday, it remains uncertain how traders in other asset classes will react to this news.
