Over the weekend, cryptocurrency prices took a hit following Iran’s drone attack on Israel. This event foreshadows potential market turmoil as investors factor in the looming threat of a wider conflict in the Middle East.
Bitcoin saw a 5% drop, while ether and XRP experienced even steeper declines of over 7% and 13.5% respectively, as reported by CoinMarketCap. This indicates that risk assets are likely to face significant pressure.
The true impact of Iran’s military strike on Israel will become clearer on Sunday evening when futures trading commences in the U.S. for various financial instruments.
Friday’s trading session provided a glimpse of what could unfold. Reports suggested an imminent Iranian assault on Israel, causing U.S. oil prices to surge by 3% to surpass $87 per barrel.
Investors sought refuge in U.S. Treasury bonds, leading to a substantial rally and a 10 basis point drop in the 10-year yield.
These developments underscore the heightened uncertainty in the markets…
2024-04-13 18:19:06
Originally posted on finance.yahoo.com