Crypto markets shed $80B after fresh US strikes on Iran

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LVRG Research director Nick Ruck told Cointelegraph on Thursday that markets sold off as investors priced in heightened geopolitical risk, potential oil supply disruptions, and a flight to safety. Related: Bitcoin falls further as BTC miners pivot to AI, pro-crypto legislation stalls “Bitcoin and Ethereum, despite their long-term narrative as hedges, continue to behave more like high-beta risk assets during periods of uncertainty,” he said. “Traders are now monitoring escalation risks in the Middle East, and any effects on inflation and Fed policy as crypto liquidity quickly thins, and leveraged positions get flushed out.” Ether (ETH) also fell on news of the strikes, collapsing below the psychological $2,000 level, slumping more than 4% to $1,976 at the time of writing. The asset is at its lowest level since late March. Crude oil prices also reacted with a 3.5% increase as WTI topped $92 while Brent climbed to $98 per barrel. Magazine: Polymarket seeks Japan entry, Harvard dumps entire ETH position: Hodler’s Digest More on the subject

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