Cryptocurrency Markets Plunge Amid US-Iran Tensions and Institutional Selling

Cryptocurrency markets took a hit on Thursday, with Bitcoin leading the decline. The world's largest cryptocurrency fell below $73,000, its lowest point in over six weeks. This drop was largely driven by renewed US military strikes on Iran, which heightened geopolitical tensions and weighed on investor sentiment.

The second-largest token, Ethereum, also experienced significant losses, dropping 5% to a two-month low of $1,975.63. Other altcoins were not spared either, with several notable declines across the market.