Global Crypto Market Reacts to US Seizing Russian Flagged Tanker

• The global crypto market has declined in a reaction to the US seizing a Russian flagged tanker.
• Market cap is down by 1.93%.
• Prices of BTC and ETH have plunged by 1.79% and 3.04% over the past 24 hours, respectively.

The crypto market worldwide has reacted to the recent act of the US seizing a tanker that was flagged as Russian. Prices of major tokens, like BTC and ETH, have slipped over the last 24 hours. Meanwhile, a detailed statement from Russia is awaited. It was last heard confirming the capture of the tanker.

US Captivates ‘Dark Fleet’ Tanker

First to shed light on the incident, the US has captured or seized a tanker that allegedly belongs to the dark fleet. It was reportedly found empty in international waters in the Caribbean. First known as Bella 1, the ship later flagged itself Russian and changed the name to Marinera.

It is believed that Russia sent a submarine to escort the tanker. But, the US seized it first, with Russia later confirming losing contact to the tanker. A detailed statement from Russian authorities is awaited. The US Vice President, JD Vance, said that it was a fake Russian oil tanker that pretended to be Russian just to avoid sanctions.

Tensions Affecting Crypto Market

China has called out this incident as an act of bullying, while it adds to the tension between the US and Venezuela. The crypto market worldwide, on the other hand, is starting to feel the pinch. This is evident from two core aspects, namely market cap and trade prices.

Market Cap, for starters, has declined by 1.93%, slipping to $3.12 trillion at the time of writing this article. The global crypto market is seen sustaining the critical $3 trillion milestone for now.

Trading prices are narrating the same story, with giants like BTC and ETH leading the charge in this instance. Both tokens are down by 1.79% and 3.04% over the past 24 hours, respectively. They are now listed at $90,991.99 and $3,153.87, applicable in the same order.

What’s Next for the Global Crypto Market?

Anticipations at the moment are that the global crypto market is likely to slow down, possibly to observe how the oil market takes shape. The US has stated that it would sell at the market price; however, the global oil market remains volatile and uncertain.

Nevertheless, the crypto market has rebounded earlier, and it could rebound again. BTC and ETH are themselves projected to surge between 12% and 80.52% in the next 3 months. Bitcoin tokens could go as high as $102,578, and Ethereum tokens might peak at around $5,671.75.

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