Recep Gülcemal 
Bitcoin has fallen below $100,000 after the latest developments! Tensions in the Iran-Israel war have escalated further with the US getting involved and striking Iran’s 3 nuclear facilities. With a pessimistic mood prevailing in the world markets and it being the weekend, the cryptocurrency market was the first to be affected by the tension. While it is a matter of curiosity whether Iran will retaliate after the US airstrike at night, warnings are coming from the US to Iran not to retaliate. Although there was no official statement from Iran, there was a sharp decline in the cryptocurrency market after the news that the Strait of Hormuz, which covers about 20% of the world oil network, was closed.
Strait of Hormuz Closed, Crypto Falls Hard!
After the US airstrike, Iran closed the Strait of Hormuz, through which about 20% of the world’s oil volume passes, as a reaction to the US airstrike, there is an air of panic in crypto. Bitcoin, which fell after the US airstrike at night, fell below the psychological support of $ 100,000 with the news of the closure of the Strait of Hormuz. In addition, Ethereum fell below the levels of $2,200, XRP $2, Solana $130. After this decline, it is estimated that more than $ 1 billion of liquidity has been experienced in the cryptocurrency markets in the last 24 hours.
According to statements made by the US side, they stated that the ultimate goal of the US is not a change of administration or regime change in Iran, but that their only problem is Iran’s nuclear programs.
On the other hand, US Secretary of State Rubio said: “I encourage China to communicate with Iran on the Strait of Hormuz issue. In another statement, Rubio said: “There are no military operations planned against Iran at this time.
Crypto Market is Blood Red!
Thoughts that the fuses of the 3rd world war are being ignited globally and that the war may start at any moment put the markets in an uneasy situation. The harsh reaction of cryptocurrencies in many previous crises is under pressure due to the new and expected crises in the coming period. We can see that Bitcoin, a digital currency, tends to decline during periods of war cries.
Instantly, the cryptocurrency market market cap levels have dropped from 3.4 trillion dollars to 3 trillion dollars. From the day the Iran-Israel war started until today, we see a market cap decline of approximately $ 400 million in the market. In addition, with a 32% increase in trading volume in the last 24 hours, the 24-hour trading volume was $ 132.27 billion. The CMC Fear and Greed Index was measured at 40%.
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