Bitcoin and Major Cryptocurrencies Take Hit Amid Geopolitical Tensions

Major cryptocurrency markets experienced significant downturns following escalating geopolitical tensions between Iran and Israel. This conflict led to the liquidation of over $1.1 billion in Bitcoin and Ethereum holdings within a 24-hour period, resulting in substantial market losses for investors across the board. The rapid decline in prices pushed Bitcoin below the $104,000 mark, while Ethereum (ETH) and other altcoins saw sharp drops as well, affecting the overall market cap by approximately 6.6%. This event highlights the sensitivity of the cryptocurrency market to geopolitical instability.