Crypto Market Tanks Amid US-Israel Iran Tensions

The cryptocurrency market experienced a sharp decline on February 28, as investors reacted quickly to reports of rising tensions between the US and Israel, and Iran. Market data shows that the total crypto market value dropped from $2.63 trillion to $2.17 trillion within one hour, erasing recent gains and pushing traders into risk-off mode.

Bitcoin slipped to around $65,683, while Ethereum fell harder to near $1,926. The sell-off was triggered by geopolitical tensions, which often lead to rapid market movements. Crypto traders tend to treat such shocks as risk events, causing capital to quickly rotate out of volatile assets.