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Title: Will the Crypto Market Crash If the U.S. Joins the Israel-Iran War?
As tensions rise between Israel and Iran, a new fear has emerged in the crypto community: what if the United States gets directly involved? With American troops already stationed in the Middle East and concerns about Iran’s nuclear goals growing, this could escalate into a massive geopolitical crisis.
Already, U.S. President Donald Trump has urged people living in Tehran to leave the city immediately on his Truth Social platform, labeling the situation as “a waste of human life.” He emphasized that “Iran cannot have a nuclear weapon.”
Polymarket, a blockchain-based prediction platform, shows a surge in the odds of U.S. military action against Iran before August, with a 62% probability. Meanwhile, the Israel-Iran conflict is spreading online. Iran’s largest crypto exchange, Nobitex, has reportedly been hacked, resulting in the loss of $48 million in USDT. The hacking group linked to Israel, Gonjeshke Darande or “Predatory Sparrow,” has taken responsibility for the attack.
A U.S. entry into the conflict would likely trigger a fresh wave of panic selling in the crypto market. Experts warn that Bitcoin could quickly lose 10% to 20% of its value, dragging down Ethereum and other altcoins alongside it. This is similar to what happened in June when Israeli strikes caused Bitcoin to plummet by 4.5% within a single day, wiping out billions in market value.
Even the Crypto Fear & Greed Index has dropped from 65 to 48.
However, there is hope for the crypto market if a ceasefire or diplomatic breakthrough occurs. This has been seen in the past when the Russia-Ukraine war escalated and Bitcoin rebounded within weeks.
Until then, it appears that the market will remain fragile.
Please note that any information provided by this article does not constitute investment advice.
Source: coinpedia.org
