Iran drone attack ripples through crypto markets, Bitcoin plunges 8%

Bitcoin, at last check, is trading at $64,123, which is still 5% lower than 24 hours ago. In the seven-day and 14-day timeframes, the loss is 7.5% and 8.6%, respectively. Over 30 days, the price dip amounts to slightly more than 6%.

The world’s biggest cryptocurrency by market cap is also down 13% from its highest price ever, which was $73,798 in March, but it’s still more than double what it was a year ago.

Experts from QCP said that Iran’s attack on Israel caused a lot of fear in the market. Ethereum (ETH) went down to $2,850, and other cryptocurrencies went down by 20–30% on average.

Per CoinGecko, among the top 100 largest cryptocurrencies by market capitalization, only the Leo token (LEO), Bittensor (TAO), Celestia (TIA), and Wormhole (W) made gains in the last 24 hours.

The crypto data aggregator also indicated that the sector’s total market cap fell by 5.2% to $2.43 trillion following April 13.

But despite all this, some analysts say that this drop is normal.

Into The Cryptoverse founder Benjamin Cowan pointed out that the crypto market had seen similar drops before. Meanwhile, MicroStrategy’s Executive Chairman Michael Saylor reiterated his now-famous line that chaos was good for Bitcoin.