Cryptocurrency Market Under Pressure Due to Middle East Tensions

The cryptocurrency market is being impacted by escalating tensions in the Middle East, leading to a decline in prices for Bitcoin, Ethereum, and XRP. The US military's Central Command has reported that it launched 'self-defence' strikes against Iran on Qeshm Island, while Iran has also fired missiles at Kuwait and Bahrain.

Bitcoin is currently trading at around $67,000, having consolidated above its support level. However, the overall market sentiment remains bearish, with investors wary of further losses due to the ongoing geopolitical tensions.

Ethereum and XRP are also experiencing significant price fluctuations, with Ethereum holding above $1,800 and XRP rebounding near $1,24. The crypto Fear & Greed Index has dropped to 11 in the Extreme Fear territory, suggesting that risk-averse sentiment is prevailing.