Having fallen by some 8% from highs made in early June, crypto markets have been under pressure recently, owing to a prevailing theme of low risk appetite.
While uncertainty on tariffs and recent monetary policy decisions by the Federal Reserve have contributed to recent bearish momentum, the most immediate cause of recent selling pressure is overwhelmingly current developments in the Israel-Iran conflict, with the United States becoming increasingly involved.
Able to react immediately to news of the United States’ airstrikes on Iranian nuclear facilities, with crypto markets famously open 24/7, Bitcoin pricing fell to lows of $98,385 on Sunday, crucially below the often-eyed key level of $100,000. Ethereum also fell to new lows as reports broke, reaching new lows of $2117 before retracing towards the end of Sunday’s session..
Otherwise, many altcoins such as XRP, Solana, and ADA also saw sharp declines in value.
