USA Strikes Iran: Bitcoin and Altcoins Are Deeply Affected! Here is the Latest Situation and Analyses on What Could Happen Next

Following the announcement by U.S. President Donald Trump that airstrikes had been carried out on three major nuclear facilities in Iran, there were sharp movements in the cryptocurrency market.

This morning, Ethereum lost value by 7.7%, dropping to the level of 2,200 dollars, while the price of Bitcoin remained largely stable.

Ethereum Price Has Fallen More Than Most Small Altcoins

ETH reached its lowest intraday price since May 9, while recovering some of its losses during the day. The leading cryptocurrency Bitcoin briefly fell below $101,000 before stabilizing near previous levels. Due to traditional financial markets being closed over the weekend, the first reaction to developments came from cryptocurrencies.

Co-founder of the crypto derivatives market liquidity provider Orbit Markets, Caroline Moron, stated, "The market is watching geopolitical developments with concern," noting that investors are closely monitoring the levels of $100,000 for Bitcoin and $2,000 for Ethereum. Moron mentioned that when traditional markets reopen, oil prices will also be on the agenda.

Trump's announcement of the attacks on Iran's facilities in Fordow, Natanz, and Isfahan has led to a peak of uncertainty in the markets. Especially noting that a "bomb-laden attack" was carried out on the Fordow facility, Trump stated that this facility is closely monitored by the international community due to its uranium enrichment activities, raising suspicions of nuclear weapon production.

Cosmo Jiang, the general partner of Pantera Capital Management, said, "Uncertainty about whether the US will attack Iran created selling pressure throughout the week" and added: "However, the confirmation of the attacks and the potential for a resolution being near have led to prices finding a local bottom."

According to Coinglass data, a total of $679 million in positions were liquidated in the cryptocurrency market in the last 24 hours. Of this amount, $554 million was from long positions and $67 million from short positions.

Jiang also stated that "Bitcoin often leads the recovery" during periods of geopolitical uncertainty.

*It is not investment advice.

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