Crypto News – On April 13, as a result of Iran attacking Israel and intensifying geopolitical tensions in the Middle East, the price of bitcoin fell by more than 5.15%.
Iran and Israel Political Tensions Negatively Affected Many Cryptocurrencies, Especially Bitcoin
Within minutes of the attack, the price of Bitcoin fell from approximately $67,000 to $61,625, wiping out nearly $130 million in market capitalization.
Some cryptocurrencies are being impacted by the sell-off as well. While Solana was down 8.14% to $138 at the time of writing, Ether was down 7.49% to $3.026, according to the data. Data from CoinMarketCap indicates that the value of the global cryptocurrency market fell by 8.19% to $2.32 trillion.
The Main Cause of Political Tension
Iran fired drones at Israel on Saturday, April 13, according to Bloomberg. This is a reprisal for an attack that Israel carried out a few days prior, killing seven Iranians, including two generals, at a diplomatic compound in Damascus, Syria. In addition to the attacks, a cargo ship apparently owned by an Israeli billionaire has been seized by Iranian authorities.
President of the United States Joe Biden issued a warning on April 12 that Iran would attack “sooner rather than later,” emphasizing that the US would support Israel‘s defense.
We are devoted to the defense of Israel. We will support Israel, we will help defend Israel, and Iran will not succeed.
Biden
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