Crypto Market Slumps Amid US-Iran Conflict Escalation
The cryptocurrency market took a hit today as Bitcoin plummeted to $84,242.05, down 2.1% over 24 hours, amidst a broader selloff across stocks and precious metals.
The US-Iran conflict escalated after Iranian President Masoud Pezeshkian addressed the UN General Assembly, accusing the United States of violence against civilians and pushing back on accusations of terrorism.
Markets began falling almost immediately after his speech as traders priced in the possibility of a prolonged US-Iran conflict, which would likely push oil prices higher and add fresh pressure on inflation.