US-Iran Tensions Spark Crypto Market Slump

The cryptocurrency market took a hit over the past 24 hours, with its total capitalization falling to $2.68 trillion. This decline of 1% comes on the back of a slump in key assets Bitcoin and Ethereum. Bitcoin's price dropped to $77,664.88, while Ethereum's price fell to $2,417.73.

The sell-off is linked to escalating tensions between the US and Iran over the weekend. The US Central Command confirmed that American forces struck two Iranian rocket launchers on Larak Island in a drone attack.