The prices of many cryptocurrencies, including Bitcoin and Ethereum, have dropped precipitously today after the Israeli military said Iran had launched "dozens" of drones towards the country in an attack against the country.
The price of Bitcoin, which peaked today around $68,000, has fallen sharply in the last hour to reach a price of about $62,000 as of 4:50 pm ET, according to The Block's Price Page, a selloff of nearly 8%. Ethereum likewise saw a 9% drop to about $3,000, while other tokens like BNB and Solana saw double-digit percentage declines.
As a whole, the crypto market is down 8% on the day, according to The Block's data. While the geopolitical events aren't tied directly to crypto, traditional markets are closed on Saturday, leaving it unclear how traders of other asset classes will respond to the news. This is a developing story.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.