The cryptocurrency market is under pressure following rising geopolitical tensions in the Middle East, with Bitcoin sliding to $104,940, down 2.4% in the past 24 hours, according to CoinMarketCap data.
This drop coincides with escalating conflict between Israel and Iran, fueling risk aversion across global markets and leading to sharp losses in digital assets.
Geopolitical Tensions Drive Market Reactions
The downturn was triggered by Israeli airstrikes targeting Iran’s nuclear and ballistic missile facilities, a move that prompted Tehran to issue strong warnings of retaliation against both Israel and the U.S. While Iran claimed no major infrastructure damage, reports confirmed the death of a senior commander from the Islamic Revolutionary Guard Corps (IRGC), escalating fears of prolonged regional instability.
Though the U.S. denied direct involvement, it has cautioned Iran against targeting American interests, raising the specter of broader conflict.
Bitcoin and Risk Assets Slide
In response to the rising uncertainty, investors rotated into traditional safe havens. Oil and gold saw sharp gains, while equity indices and cryptocurrencies tumbled.
Bitcoin, often labeled as a high-risk asset during periods of global instability, fell from a recent high of $107,750 and is now hovering just below $105K, as seen in the intraday price chart.
Key metrics:
BTC Price at the time of writing: $104,940
24h Volume: $70.92B (+34.94%)
Market Cap: $2.08T (-2.66%)
The spike in trading volume suggests heightened volatility, with traders rapidly adjusting exposure in light of geopolitical headlines.
Broader Implications
This latest decline highlights Bitcoin’s sensitivity to macro-political shocks, especially during times of conflict that cast uncertainty over global economic stability. Analysts warn that continued tension could keep crypto markets under pressure, at least until a clearer diplomatic or military resolution emerges.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/israel-iran-war-tensions-shake-crypto-markets-bitcoin-takes-a-hit/