Breaking: News of Israel’s Preemptive Strike Sends Crypto Market Plunging, Bitcoin at Risk of Falling Below $64,000

▲ [Breaking] Crypto market plunges on news of Israel’s preemptive strike…Bitcoin at risk of falling below $64,000 / Gemini-generated image

As geopolitical risks in the Middle East become a reality, the global cryptocurrency market is being swept up in uncontrollable panic selling. Immediately after news broke of Israel’s preemptive strike on Iran, the market froze, sending major cryptocurrency prices into a vertical dive.

As of 3:30 p.m. KST on the 28th, CoinMarketCap data showed that the total global cryptocurrency market capitalization had plunged 3.8% from the previous day to $2.25 trillion. The “Fear and Greed Index,” which reflects market sentiment, fell from 16 in the morning to 14, entering even deeper into the “Extreme Fear” stage.

Bitcoin (BTC), the market bellwether, was hit hard. Trading at $64,533.53, down 4.66% over the past 24 hours, the psychological support level of $65,000 collapsed with little resistance. In just the past hour, it has dropped 1.66%, indicating a surge in selling pressure.

The shock has been even greater in the altcoin market. Ethereum (ETH) plunged 7.67% over 24 hours to $1,878.77, surrendering even the $1,900 level. Solana (SOL) fell 8.56% to $79.65, while other top market-cap coins—including Dogecoin (DOGE, -7.67%), XRP (XRP, -5.36%), and Binance Coin (BNB, -4.17%)—are also suffering steep declines.

The sharp cryptocurrency sell-off is interpreted as a result of heightened tensions in the Middle East, which have maximized investors’ aversion to risk assets. According to major foreign outlets such as Reuters on the 28th (local time), Israel’s defense minister officially announced that “Israel has carried out a preemptive strike against Iran,” with witnesses in Tehran reporting sounds of explosions. The resumption of direct military conflict between Israel and Iran, eight months after last year’s “12-Day War,” is sending shockwaves through financial markets that are extremely sensitive to uncertainty.

Experts warn that as the geopolitical crisis is unlikely to be resolved in the short term, volatility in the cryptocurrency market is expected to remain severe for the time being. If Bitcoin fails to hold the $64,000 level, further declines toward the low $60,000 range are possible. Depending on developments in the Middle East, concerns over international oil prices and inflation, and movements in major global stock markets, the crypto market is likely to experience extreme roller-coaster swings, making thorough risk management essential for investors.

Disclaimer: This article is for investment reference only and the publisher assumes no responsibility for any investment losses incurred based on it. The content should be interpreted solely for informational purposes.