Trump's Warning Sends Global Markets Reeling

Bitcoin and Ethereum plummeted in value on Tuesday after President Trump announced U.S. strikes on Iranian targets near the Strait of Hormuz, warning of a larger attack to come.

The move sent shockwaves through global markets, with Brent crude spiking nearly 5% to $96 per barrel, its highest level since 2008.

Trump's announcement was in response to Iran attempting to place sea mines in the waterway and firing eight missiles at a US military base in Jordan.

Economists are warning that rising yields could spell trouble for Bitcoin, with higher returns on safe government bonds pulling capital away from risk assets like crypto.