Rising geopolitical tensions are once again impacting the crypto market. As the United States issued a fresh warning to its citizens, urging them to leave Iran immediately, crypto prices continue to fall. As investors remain cautious of a possible military conflict, it triggered a wave of selloff across the market, resulting in a severe downturn.
US-Iran Concerns Shake Crypto Prices
On Friday, the US Virtual Embassy in Iran ordered American citizens to leave the country immediately. With a security warning, “leave Iran now,” the embassy urged them to make departure plans that do not rely on assistance from the U.S. government. The advisory stated,
In response to these rising tensions between the US and Iran, crypto prices are under pressure. Driven by fear and caution, traders are repositioning their assets, looking for more stable and safer investment options. Thus, risk assets like Bitcoin and other cryptocurrencies face increased pressure, with major crypto prices falling.
Previously, when US President Donald Trump threatened Iran with far worse military actions, crypto prices experienced one of their worst times. It was when the BTC price fell below $90k, after holding the level for a period.
Further, the embassy cautioned US citizens to be prepared for ongoing internet disruption and to arrange other ways to stay in touch. They are also asked to consider leaving Iran by land through Armenia or Turkiye, if possible and safe. The statement added,
Notably, this development comes just before scheduled talks between the US and Iran in Oman on Friday. As there are no signs that both sides agree on the agenda or key issues to be discussed, there is growing uncertainty regarding what’s next. The meeting is reportedly set to include US Special Envoy Steve Witkoff and Jared Kushner, the son-in-law of President Trump. The delegation will also be led by Iran’s Foreign Minister Abbas Araghchi.
Is the Crypto Market Slipping to its Worst Days?
Currently, the cryptocurrency market is facing a severe downward trend, with crypto prices facing significant losses. The total market cap is now at $2.28 trillion, down by 5.2%. This marks the lowest level since late 2024.
BTC price is currently marked at $66,656, down by a significant 6% in a single day. The coin has also plummeted by 20% and 28% over the past week and month, respectively. Similarly, other major crypto prices are also on the negative track; while ETH is down by 5.5%, XRP has fallen by 7.2%. These levels of major cryptocurrencies mark their multi-month lows.
Source: https://coingape.com/crypto-prices-drop-as-u-s-urges-citizens-to-leave-iran/
