The prices of many cryptocurrencies, including Bitcoin and Ethereum, plunged today after the Israeli military said Iran had launched dozens of drones to attack Israel.
The price of Bitcoin, which peaked at around $68,000 today, has fallen sharply over the past hour, reaching around $62,000 as of 4:50 PM ET, according to The Block’s price page. This marked a sell-off of nearly 8%. Ethereum also fell 9% to around $3,000, while other tokens such as BNB and Solana saw double-digit declines.
Overall, the cryptocurrency market fell 8% on the day, according to data from The Block. Although the geopolitical event is not directly tied to cryptocurrencies, traditional markets are closed on Saturday, so it is unclear how traders in other asset classes will react to the news.
This is a developing story.
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