Bitcoin (BTC), Ethereum (ETH), and other cryptos bleed as tension escalates in the Middle East

Bitcoin and the rest of the crypto market registered a massive loss after Iran officially launched an attack against Israel

The biggest loss bearers of this event among the top 20 coins were SHIB, AVAX, and XRP, with over 10% loss in the past hour. The cryptocurrency market has registered a massive reaction to the escalating tensions in the Middle East. Bitcoin , the king coin, has lost nearly 8% of its value within a few minutes, while other cryptocurrencies have registered a loss exceeding that. The great crypto plunge follows news of Iran’s official attack on Israel, confirmed by Israeli authorities.

According to CoinMarketCap, at press time, Bitcoin was trading at $62,049 with a market cap of over $1 trillion. The coin has registered a downtrend of 7.51% in the past hour, while its past-day trend shows a similar pattern.Ethereum , the second-largest cryptocurrency in the market, has also lost a huge portion of its value in the past hour. According to CMC, ETH lost nearly 9% of its value, with the coin trading at $2924 at press time.

Notably, the three biggest losers among the top 20 cryptocurrencies in the past hour were Shiba Inu with nearly 13. 01%, XRP with a drop of 13.89%, and Avalanche with 12.46 % drop.Priya is a freelance cryptocurrency writer at AMBCrypto. A student in business administration, Priya focuses on the latest developments in the cryptocurrency and blockchain technology space.Subscribe to get it daily in your inbox.

Source: News Formal (newsformal.com)

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin (BTC) vs. Memecoins: Navigating the Bitcoin (BTC) (BTC) Investment LandscapeOne such memecoin that has garnered significant attention is Shiba Budz (BUDZ). Introduced as a playful spin-off of the Dogecoin phenomenon..
Source: CryptoAmb - 🏆 22. / 68 Read more »

Bitcoin (BTC): BTC Breaks $70k As New BUDZ Cryptocurrency Joins Market RallyMilestones are not uncommon, but some are more significant than others. Recently, Bitcoin (BTC) achieved a remarkable feat by soaring...
Source: CryptoAmb - 🏆 22. / 68 Read more »

Bitcoin maximalist predicts $100K for BTC in April, but…Bitcoin still has more upside potential, according to Fred Krueger. But Ethereum ETF and Real-World Asset narrative could pose a real threat.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Don’t sell your Bitcoin just yet: This exec explains why you should HODL BTCLawrence Lepard shares his insights on trading Bitcoin and believes the asset holds long-term potential that can even surpass the US dollar.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Bitcoin: How a surge on this front could be ‘dangerous’ for BTCBitcoin [BTC] borrowing costs on leading cryptocurrency exchanges like Binance and Bybit have reached their highest point since 2021.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Will Bitcoin ETFs become a problem for BTC’s ‘ideology’?Pete Rizzo discusses Bitcoin ETFs' impact on adoption and concerns about decentralization amid the growing ETF hype.
Source: CryptoAmb - 🏆 22. / 68 Read more »