Israel’s military strikes on Iran early Saturday have rattled the crypto market, pushing Bitcoin down to its support level of $65,500 as investors react to heightened geopolitical risks.
Ethereum, Solana, and other altcoins faced declines of 3-6%, with Solana slipping under $165 and Ethereum’s weekly losses extending to over 7.68%.
The IDF announced that the strikes targeted Iranian military bases in response to continuous attacks, asserting Israel's right to defend its people and territory.
Historically, similar geopolitical tensions have caused temporary market dips, often followed by quick recoveries as uncertainty subsides.
The Wall Street Journal reports Tether faces scrutiny for alleged ties to sanctioned groups, raising further market concerns.