In the latest development in the U.S.-Iran war, President Trump shared that his country would not retaliate on its airstrike until its objectives are met. The comments has caused the crypto market crash to resume after the brief recovery.
Crypto Market Crashes Amid Escalating U.S.-Iran Conflict
Bitcoin and altcoins have continued their free fall as geopolitical tensions grow further. The BTC price fell below $67, 000 with altcoins following the trend. Ethereum price also dropped by nearly 3%, with SOL and XRP posting similar losses.
Source: TradingView; BTC price daily chhartThe crypto market crash resumed just after President Donald Trump shared that the US will continue bombing Iran until its objectives are achieved. This was after Iran retaliated after the US killed its supreme leader, Ayatollah Ali Khamenei.
The U.S. President called on the Iranian military and police to surrender for full immunity or face certain death.
Not long after, Israel launched new air strikes targeting Tehran. They also expanded their military campaign to include attacks on Iran-backed Hezbollah militants in Lebanon. Meanwhile, Trump also said in an interview with the New York Times that he expects the airstrikes by Iran to continue for the next four to five weeks.
Experts said that if the strikes continue, the crypto market crash could worsen as Bitcoin continues to struggle. Trump also highlighted that this could be similar to what the United States did in Venezuela.
UK Throws Support Behind U.S. as War Escalates
The UK has agreed to allow the US to use the UK military bases to strike Iranian missile sites, according to Keir Starmer, UK Prime Minister. This news also impacted the crypto market, which has been crashing.
Although the UK has not been impacted by the US-Israel strikes in Iran, the Minister stated that Iran was becoming reckless with its approach, especially with its attacks on Bahrain, the UAE, and others. This was the reason for agreeing for the US to use two of the UK military bases to attack the Iranian missile sites.
Source: https://coingape.com/crypto-market-crash-deepens-as-trump-confirms-more-airstrikes-to-hit-iran/
