Cryptocurrency in red after Israeli missile reportedly hits Iran
bitcoin 
BTC
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Ethereum and other major cryptocurrencies fell over the past hour following reports that an Israeli missile had struck a region in Iran, confirmed by US officials to ABC News.
They say markets may be expecting global conflict to escalate further with explosions reported in Iraq and Syria. alphabetHowever, US officials have not yet confirmed this.
According to The Block, the world’s largest cryptocurrency fell 2.64% to $60,726 over the past hour, while Ethereum fell 3.6% to fall below the $3,000 resistance line. pricing page. Ether was trading at $2,925 at the time of publication.
Most other cryptocurrency tokens have lost more than 3% of their value in the past hour. This could indicate that investors are rushing to withdraw from assets they see as risky.
“Ongoing geopolitical instability could further fuel risk-off sentiment in financial markets, potentially leading to continued selling pressure on cryptocurrencies as investors seek safer assets,” Rachael Lucas, head of marketing at BTC Markets, told The Block. “It could lead to this,” he said. “This could overshadow the rally that cryptocurrencies experienced in the first quarter of this year.”
On the other hand, Lucas said there is a possibility that investors may later turn to Bitcoin and other cryptocurrencies as a store of value if tensions escalate further in the region.
that much GMCI30an index representing the top 30 cryptocurrencies, fell 2.50% over the last 24 hours.
Last weekend, the cryptocurrency market rapid decline along with other risky asset markets after Israel claimed Iran had launched “dozens” of drone attacks against the country. Bitcoin saw a selloff of about 8%, while Ethereum saw a selloff of about 9%. U.S. stock markets also fell next Monday due to concerns about escalating conflict between Israel and Iran.
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