US-Iran Conflict Sparks Broad Crypto Sell-Off Amid Rising Oil Prices

Crypto markets weakened after US airstrikes on Iran sent shockwaves through global assets. Bitcoin's price hovered around $77,500 during Asian hours on September 2, down about 1% over the past 24 hours.

Solana and Tron fell more than 3% each, while Ether dropped 2% to trade near $2,414. XRP also slipped 2%, changing hands around $1.35. BNB was relatively resilient, with a loss of less than 1%.

The decline in crypto prices appeared to stem from a jump in oil prices and Treasury yields following the resumption of military conflict between the US and Iran. Brent crude rose above $95 a barrel as concerns grew over potential disruptions to oil shipments through the Strait of Hormuz.