- Crypto market prices fall as war tensions escalate.
- Trump confirms US combat operation in Iran.
- Can crypto prices recover if geopolitical tensions simmer?
The crypto market saw a fall in total market cap by over 6% in the last 24-hours and experts believe a larger dip in prices is underway as a few countries go to war. In detail, crypto market prices fall as war tensions escalate and Trump confirms US combat operations in Iran. It seems the US, Israel, and other NATO nations are gearing up to close in on Iran. Will the crypto market fall amidst the mounting global strife?
Crypto Market Prices Fall as War Tensions Escalate
According to CoinMarketCap analytics, the prices of nearly all crypto assets have dipped deep and turned red, leading to billions flowing out of the market in a matter of hours. Presently, the total market cap of the crypto market is down to $2.2 trillion and marks a dip of over 6% in the past 24-hours. With geopolitical tensions increasing, expectations for the price of crypto assets to fall even further grow stronger.
What’s more, the CMC Crypto Fear and Greed Index marks how the radaris at a score of 14, marking ‘Extreme Fear’. While in bull markets, this is a good signal to accumulate, during bear markets, it’s a sign that says it is too late and losses are likely if perfect exits are missed. At the moment, the price of BTC has fallen as far as $63,000, and one expert expects the asset to bottom between the $35,000 – $40,000 price range.
Trump Confirms US Combat Operations in Iran
While crypto analysts were already debating over bearish and bullish expectations, bearish expectations seem to be growing stronger as geopolitical tensions only continue to rise. Today, the Israel-Iran conflict seems to have taken an even greater turn towards the concerning side, and many expect an even more bearish wave to come for the prices of even promising crypto assets.
As we can see from the post above, the ongoing market slump has recorded over $75 billion being wiped out front he crypto market within 60 minutes as the USA and Israel attacked Iran. The sudden escalation of the situation has led to the price of BTC dropping to the $63,000 price range while ETH dropped to the $1,800 price range. More dips are expected as NATO nations are expected to join the battle.
Trump also confirmed the presence of US combatants in Iran. In detail, President Donald Trump announced the U.S. has launched major combat operations in Iran in coordination with Israel, calling it a preemptive strike against imminent threats. Furthermore, he said the mission targets Iran’s missile and naval capabilities and warned Iranian forces to surrender or face severe consequences. Can BTC price recover when the conflict ends?
