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Crypto Market Experience Significant Pullback Following Iran’s Attack on Israel

Published 04/14/2024, 07:58 PM
Updated 04/14/2024, 08:15 PM
Crypto Market Experience Significant Pullback Following Iran’s Attack on Israel
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  • Crypto prices crashed on Saturday following reports of an impending attack on Israel by Iran.
  • The Israeli military said on Saturday that Iran launched dozens of drones toward the country.
  • Total crypto market capitalization dropped from around $2.45 trillion to below $2.20 trillion.

Crypto prices crashed on Saturday following reports of an impending attack on Israel by Iran. Bitcoin fell by 9.63% to $61,308 after reaching nearly $68,000 earlier in the day. Bitcoin’s drop dragged other cryptocurrencies lower, with Ethereum falling to $2,845, reflecting a 13.5% pullback in a couple of hours.

The Israeli military said on Saturday that Iran had launched dozens of drones toward the country in an impending attack. The actions by Iran have attracted reactions from across the world, especially the World powers from the West.

Following the development, U.S. President Joe Biden said the U.S. helped Israel shoot down incoming drones and missiles, and reaffirmed “America’s ironclad commitment” to Israel’s security. President Biden further noted that he would coordinate a response by Group of Seven nation leaders and remain vigilant to threats.

Saturday’s development t…

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