Bitcoin slumps 8% after Iran attacks Israel, flashes warning for global markets
Iran launched attack drones and missiles against Israel in apparent retaliation for a strike in Syria that killed top Iranian military officers, taking the conflict in the region into a perilous new phase. Digital assets trade during the weekends, giving investors a window on the potential mood when traditional markets reopen on Monday — though much can change between now and the restart.
A continuation of the crypto selloff “is probably contingent on further escalation,” said Zaheer Ebtikar, founder of crypto fund Split Capital, adding “people will really look for what markets will look like on Monday.”
As Israel braced for an attack, the tension hurt stocks Friday and boosted havens such as bonds and the dollar. Coinglass data show about $1.5 billion of bullish crypto wagers via derivatives were liquidated on Friday and Saturday, one of the heaviest two-day liquidations in at least six months.
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View Details»Leverage “has gotten completely overwhelmed in the last three days, so that’s caused prices to materially deteriorate” in digital
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