Wormhole

April

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After Iran’s April 13 drone attack on Israel, the crypto market reacted; Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="">BTC</a>) dropped more than 8% from its value to trade at $61,514. 
The latest correction marked the continuation of a trend that started on April 12 and worsened the next day. 
Analysts estimate the crypto market liquidated more than <a href="https://crypto.news/iran-israel-conflict-funding-rates-860m-sell-off/" target="_blank" rel="">$860 million</a> in assets over two days; the price of <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="">Bitcoin</a> initially fell from $71,000 to $65,000 and then dropped even more to the $61,000 level.&nbsp; 
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 Bitcoin price chart April 10-13 | Source: CoinGecko
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Market watchers have suggested the first drop was due to news from the U.S. Federal Reserve, which signaled it was not in a hurry to reduce interest rates. 
This stance is driven by sticky inflation levels, which are causing unease domestically and influencing expectations regarding policy adjustments globally. 
The second drop was due to the growing tension between Iran and Israel, with crypto traders being the first to react to the news since traditional financial markets were closed for the weekend. 
 You might also like: <a href="https://crypto.news/bitcoin-etfs-55m-net-outflow-btc-drops-65k-on-friday/" rel=""> Bitcoin ETFs see $55m net outflow, as BTC drops to $65k </a> 
Bitcoin, at last check, is trading at $64,123, which is still 5% lower than 24 hours ago. In the seven-day and 14-day timeframes, the loss is 7.5% and 8.6%, respectively. Over 30 days, the price dip amounts to slightly more than 6%.&nbsp; 
The world’s biggest cryptocurrency by market cap is also down 13% from its highest price ever, which was $73,798 in March, but it’s still more than double what it was a year ago. 
Experts from QCP <a href="https://t.me/QCPbroadcast/1192" target="_blank" rel="">said</a> that Iran’s attack on Israel caused a lot of fear in the market. Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="">ETH</a>) went down to $2,850, and other cryptocurrencies went down by 20–30% on average. 
Per CoinGecko, among the top 100 largest cryptocurrencies by market capitalization, only the Leo token (LEO), Bittensor (TAO), Celestia (TIA), and Wormhole (W) made gains in the last 24 hours. 
The crypto data aggregator also indicated that the sector’s total market cap fell by 5.2% to $2.43 trillion following April 13. 
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 The total crypto market cap has fallen by 5.2% to $2.43 trillion today. Are you buying or selling? <a href="https://t.co/PTgsAoyWwy" target="_blank" rel="">pic.twitter.com/PTgsAoyWwy</a>— CoinGecko (@coingecko) <a href="https://twitter.com/coingecko/status/1779493079193706719?ref_src=twsrc%5Etfw" target="_blank" rel="">April 14, 2024</a>
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But despite all this, some analysts say that this drop is normal. 
Into The Cryptoverse founder Benjamin Cowan <a href="https://twitter.com/intocryptoverse/status/1779262041150083370" target="_blank" rel="">pointed</a> out that the crypto market had seen similar drops before. Meanwhile, MicroStrategy’s Executive Chairman Michael Saylor reiterated his now-famous line that chaos was good for Bitcoin. 
 Read more: <a href="https://crypto.news/edward-snowden-not-worried-bitcoin-prices-dropping/" rel=""> Edward Snowden is not worried about Bitcoin prices dropping </a>

Iran drone attack ripples through crypto markets, Bitcoin plunges 8%

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