Israel-Iran War Fears Suddenly Spark $500 Billion Bitcoin And Crypto Price Crash—Hitting Ethereum, BNB, XRP, Solana And Dogecoin

BitcoinBTC
has fallen sharply after Israel’s military said Iran had fired “dozens” of drones toward it in a retaliatory attack.

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The bitcoin price has dropped toward $60,000 per bitcoin, down from over $70,000 per bitcoin earlier this week, after the Iranian Revolutionary Guard said it launched “dozens of drones and missiles” at Israeli territory.

The bitcoin price crash dragged down the wider crypto market, hitting top ten coins ethereum, BNBBNB
, XRPXRP
, solana and dogecoin and wiping $500 billion from the combined crypto market.

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Earlier this week, Iran warned Israel would be “punished” for an April 1 attack on its Syria consulate. U.S. president Joe Biden then promised “ironclad” support for Israel, adding the U.S. will “do all we can to protect Israel’s security.”

However, Iran’s response has sparked fears the regional conflict, which has been growing since the October 7 attack on Israel by Gaza’s Hamas militants, could escalate into a full scale war.