Bitcoin nosedives as political tensions escalate in the Middle East

Bitcoin and other cryptocurrencies fall sharply following Iran’s attack on Israel.

Bitcoin price plummeted over 8.4% on April 13 after Iran launched an attack on Israel, escalating geopolitical conflicts in the Middle East. 

The price of Bitcoin (BTC) dropped from around $67,000 to $61,625, wiping out over $130 million in market capitalization within minutes following news of the attack.

The sell-off is also affecting other cryptocurrencies. At the time of writing, Ether (ETH) was down 9.81% to $2,927, while Solana’s (SOL) sank 15.96% to $129. According to CoinMarketCap data, the global crypto market capitalization declined 8.19% to $2.23 trillion.

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