Cryptocurrency Market Plummets Amid US-Israel Military Operation

The global cryptocurrency market was dealt a significant blow on Saturday, February 28, 2026, as news of the US and Israel's military operation against Iran spread.

According to data from CoinGlass, the total crypto market cap shed approximately $128 billion in value within a 24-hour window, with investors seeking safety fleeing from volatile assets.

The sudden escalation of geopolitical instability in the Middle East has been cited as the primary driver behind the current crypto crash. Historically, Bitcoin has been debated as a safe-haven asset, but recent price action suggests it behaves more like a high-risk growth stock in times of conflict.