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.
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Read More: Crypto sells off sharply amidst reports of Iranian drone attack on Israel
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