Cryptocurrency markets remain volatile late Saturday as tensions between the U.S., Israel and Iran continue to escalate. Unlike stock markets, crypto trades 24/7 and reacted immediately to the shock.
Bitcoin is hovering around $64,000 to $65,000. It earlier dropped to about $63,038 before seeing a small rebound. The move marks a decline of roughly 3–4% on the day.
Ethereum is trading near $1,850 to $1,900 after sharp swings. Other major tokens like XRP and Solana have also posted losses, with some falling between 4% and 10%.
Estimates suggest between $70 billion and $128 billion was erased from the total crypto market cap in the first wave of selling. Over $500 million in leveraged positions were liquidated in 24 hours, affecting more than 140,000 traders.
Analysts say the sell-off reflects a classic “risk-off” move. Investors shifted toward gold and the U.S. dollar as oil prices jumped on fears linked to the Strait of Hormuz.
Online trading communities are divided. Some traders expect a rebound if tensions cool. Others warn that Bitcoin could test the $60,000 level if the conflict escalates further.
For now, markets remain highly sensitive to headlines. Any escalation or signs of de-escalation could quickly shift prices in either direction.
