Cryptocurrency markets are highly sensitive to geopolitical risks, and allegations of an attack on Iran have led to a price drop. As this article was being prepared, Bitcoin (BTC) 
$94,588 was trading at $65,600, with daily lows continuing to decline.
Why Are Cryptocurrencies Falling?
Many altcoins experienced declines of over 10% during this time. The price of BTC has fallen to $65,600. Reports suggest that Israel launched an attack on Iran in response to missile strikes on October 1. According to Fox News, the assault has officially begun, prompting investors to sell off rapidly due to fears of greater losses as the weekend approaches.
Sources like Axios have confirmed the attack based on information from knowledgeable individuals. Iranian state television is reporting explosions in various locations in Tehran, though no official statement has yet been made regarding the cause of the blasts.
U.S. officials have hinted at a potential retaliation against Iran, recommending that it remain “limited.” The Biden administration has expressed clear concerns about the possibility of escalating into a full-scale war. The U.S. military has been increasing its presence in the region, with CENTCOM recently announcing the arrival of F-16s from the 480th Fighter Squadron stationed at Spangdahlem Air Base in Germany.
