Bitcoin prices slip over 3% as Israel-Iran conflict pushes investors away from riskier assets; Ether down 9%
Bitcoin prices fell 3% on Friday, in line with other cryptocurrencies after Israel launched airstrikes on Iran in a major escalation in the Middle East geopolitical tensions.
The largest digital asset, Bitcoin prices slipped as much as 3% to around $103,000 before paring losses, according to data on CoinMarketCap. The second largest cryptocurrency. Ethereum prices also plunged over 9%.
At 10:50 AM, Bitcoin price was trading 3.24% lower at $104,382.41, Ether prices traded 9.07% lower at $2,515.94, XRP was down 5.77% at $2.12, while Solana prices cracked 9.96% to $143.99.
The selloff in Bitcoin prices and other cryptocurrencies came as investors moved to safe-haven assets after Israel launched airstrikes on Iran, targeting key nuclear and military sites.
Risky assets witnessed heavy selloff on Friday, while safe-haven assets such as gold prices rallied amid growing geopolitical tensions and trade uncertainties. Crude oil prices also jumped more than 9%.
“The latest geopolitical escalation has injected fresh volatility into global markets, and crypto is no exception. Bitcoin has slipped below $104,000, reacting swiftly to the news of Israel’s preemptive airstrikes on Iran. Ethereum and Solana also faced pressure, with SOL falling despite major DeFi development efforts. This kind of sharp, sentiment-driven correction underscores just how interconnected crypto has become with broader macro events,” said Avinash Shekhar, Co-Founder & CEO, Pi42.
As capital moves cautiously, we’re seeing a temporary pause in the recent bullish momentum. But it’s important to note that underlying fundamentals remain strong, he added.
Shekhar believes what we are witnessing is not a breakdown, but a reset and historically, such moments have often paved the way for more resilient growth ahead.
Over $1 billion dollars’ worth of long positions across all cryptocurrencies were liquidated in the past 24-hours, Bloomberg reported, quoting Coinglass data.
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