The cryptocurrency market reflected significant losses as the United States officially entered the Iran-Israel war late Saturday night. According to President Trump, the US bombed Iran's key nuclear facilities, marking the first proactive attack in this geopolitical conflict.
The cryptocurrency market showed notable liquidation in the altcoin sector. Ethereum dropped over 5% after the news, trading below $2,300 for the first time in a month.
Additionally, Cardano approached a three-month low, falling 6% today. AI agent coins were hit the hardest, with top market cap coins like Virtual Protocol (VIRTUAL) also dropping nearly 10%.
The Iranian parliament voted to block the Hormuz Strait on the night of the 22nd, causing Bit Coin's price to fall below $100,000.
— Donald J. Trump (@realDonaldTrump) June 21, 2025
Previously, BeInCrypto analysts had predicted that Bit Coin's price could drop 10% if the US fully enters the Iran-Israel war.
Currently, the market will carefully observe Iran's response. President Trump stated that any Iranian reaction would trigger additional US actions.
Overall, today's cryptocurrency liquidation exceeded $670 million, and additional tension could signal a short-term downward cycle.
