Yigit Taha OZTURK 
The silence of the night was shattered by explosions in Tehran, echoing far beyond the borders of the Middle East. Following a wide-scale military strike by Israel on Iranian territory, global markets have entered a tailspin. The most dramatic impact has been seen in the cryptocurrency space.
Crypto Crash: Bitcoin Falls Below $103K, Ethereum Plunges Over 10%
Shortly after news broke of Israeli airstrikes targeting key sites in Iran, Bitcoin fell sharply, losing over 3% in 24 hours to trade at $103,000. Meanwhile, Ethereum saw a steeper decline, crashing over 10% to $2,450. Both BTC and ETH suffered as investors fled risky assets in favor of safer havens.
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Reports from Al-Jazeera confirmed that explosions were heard in Tehran, following an Axios report about the Israeli operation. Israeli Prime Minister Netanyahu stated that his country targeted Iran’s nuclear program and that the strikes will continue until the threat is “completely removed.”
Global Markets in Turmoil
The impact of the attack isn’t limited to crypto:
- U.S. stock futures dropped around 1.5%.
- Gold jumped 0.75% to $3,428 per ounce.
- Crude oil soared 9% to $74 a barrel.
- Treasury yields declined, while safe-haven currencies like the yen and Swiss franc strengthened.
With Iran vowing retaliation and Israel calling up thousands of reserve troops, the situation remains tense. Analysts warn that if conflict escalates, further losses in Bitcoin, Ethereum, and other risk assets are likely.
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