US-Iran Conflict Sends Crypto Markets into Tailspin

The US-Iran conflict has sent shockwaves through the global financial system and cryptocurrency market.

The situation escalated on September 1, with the United States launching fresh strikes against Iranian targets, followed by Iran's retaliatory attacks against American interests in the Middle East.

The renewed confrontation has caused a significant increase in oil prices, with Brent crude rising above $94 per barrel and West Texas Intermediate climbing above $90.

Cryptocurrency markets have also been affected, with total market capitalization falling by approximately $50 billion and investor sentiment moving out of the Extreme Greed zone.

BTC slipped below the $80,000 level, representing a decline of more than 2% on the day. Ethereum also moved lower, but spot Ethereum products attracted roughly $11 million in inflows, extending their streak to 12 consecutive trading days.