The post Bitcoin and Altcoins Plunge After Israel Attacks Iran & Tether Investigation appeared on BitcoinEthereumNews.com.

The broader crypto market crashed with the Bitcoin (BTC) price dropping 2% taking a dip to the support levels of $65,500 again. Following Israel’s attack on Iran’s military targets, the altcoins are seeing even greater pullback with Ethereum, BNB, SOL, and XRP falling by 3-6% each. The geopolitical uncertainty is once again sending tremors across the crypto market and other risk-ON assets. Crypto Market Crash Following Israel’s Attack on Iran In early Saturday morning, Israel’s military launched “precise strikes” on Iran’s military bases while escalating tensions in the Middle East. Several strong explosions were heard in Iran’s capital city of Tehran as per media reports. This development was enough to trigger a crypto market crash dragging Bitcoin and altcoins lower. However, market analysts believe that this crash is likely to be short-term. Earlier this year in April, during Israel’s first strike on Iran, the BTC price plunged more than 4% in a day, however, it quickly recovered in just four hours. The impact is stronger in the altcoin space with Ethereum (ETH) price falling another 3% to $2450 levels and extending its weekly losses to more than 7.68%. On the other hand, the SOL price is down 6.3% at press time slipping all the way under $165. Solana has been an outperformer against BTC and other altcoins with 11% gains over the past month. Furthermore, market analysts show that the ALT/BTC pair has touched a new low earlier today. Crypto analyst Benjamin Cowen said that there’s a possibility of altcoins falling even further in the coming months. #ALT / #BTC pairs put in a new low for the cycle today. The altcoin reckoning never ended. The only thing that ended was peoples’ patience to watch it play out. pic.twitter.com/mRvzFPa0Iq — Benjamin Cowen (@intocryptoverse) October 26, 2024 Tether Investigation Plays Spoilsport…

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Filed under: News - @ October 26, 2024 4:14 am