The recent US military strikes on Iran have had a profound impact on the cryptocurrency market, with Bitcoin and Ethereum experiencing significant losses.
Over the past 24 hours, the two leading cryptocurrencies lost roughly $80 billion in market capitalization, with Bitcoin falling below $73,000 to around $72,640, its weakest level since early April. Ethereum also slid more than 4% to below the key $2,000 level at around $1,980.
The sell-off was triggered by investors' growing fears of a broader regional conflict resuming, which has reignited concerns about inflation and interest rates.