Bitcoin, the world's leading cryptocurrency, experienced a sharp decline of over 8.4% on April 13 in response to the geopolitical tensions in the Middle East.
Bitcoin, the world's leading cryptocurrency, experienced a sharp decline of over 8.4% on April 13 in response to clashes between Iran and Israel. The drop in Bitcoin's price, from approximately $68,000 to as low as $61,500, resulted in a market capitalization loss of more than $130 million within minutes following news of an attack launched by Iran on Israel.
This sell-off in Bitcoin also had a ripple effect on the wider cryptocurrency market. The second most valuable cryptocurrency, Ethereum (ETH), was down 10% to $2,866, while Solana (SOL) sank over 16% to $124. Many other altcoins, such as Dogecoin (DOGE) and Polygon (MATIC), saw sharper corrections of 30% or more. According to CoinMarketCap data, the global crypto market capitalization declined by over 8.2% to $2.2 trillion.
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