Bitcoin Plummets Amid Middle East Tensions: Iran's Attack on Israel Sparks Crypto Sell-Off

Bitcoin and other cryptocurrencies experienced a sharp decline in value on April 13 following Iran's attack on Israel, intensifying geopolitical tensions in the Middle East. The sell-off saw Bitcoin's price drop by over 8.4%, from around $67,000 to $61,625, wiping out more than $130 million in market capitalization within minutes of the news breaking. This downturn also affected other major cryptocurrencies, with Ether down by 9.81% to $2,927, and Solana dropping by 15.96% to $129. The attack, reportedly in retaliation for an earlier Israeli airstrike in Damascus, Syria, heightened concerns about stability in the region and drew a response from U.S. President Joe Biden, who affirmed America's commitment to Israel's defense.