US Airstrikes on Iran Spark Crypto Sell-off: BTC Holds $100K, ETH Falls 6%
US forces conducted airstrikes on Iran’s Fordow, Natanz and Esfahan nuclear facilities on June 21–22 using B-2 bombers and Tomahawk missiles—marking the first direct strike on Iranian soil in nearly 50 years. The operation has raised questions over preemptive attack legality and fears of broader Middle East escalation. Crypto markets reacted with a sharp risk-off sell-off: Ethereum plunged 6.4% (briefly under $2,300), Solana fell 3.8%, Dogecoin and Cardano each slid over 4%, and Bitcoin dipped 0.99% to just above $100,000 before rebounding around $102,700. TRON showed resilience with a 0.11% drop and slight weekly/monthly gains, while Bitcoin Cash fell 1.33% daily but rose 3.66% over 30 days. Other assets such as Sui, XRP and Hyperliquid continued downward. Heightened geopolitical risk and low trading volumes point to a short-term bearish outlook; traders should monitor further escalations and macroeconomic developments for potential volatility.
Bearish
The US-Iran escalation triggered a broad crypto sell-off, with major tokens dropping significantly and volumes contracting—classic risk-off behaviour. Bitcoin’s dip below $101K and Ethereum’s 6.4% plunge underline heightened short-term volatility. Only a handful of tokens like TRON and Bitcoin Cash bucked the trend, but overall market sentiment remains cautious. Unless geopolitical tensions de-escalate quickly or strong macroeconomic catalysts emerge, the bearish pressure is likely to persist in the near term, although long-term fundamentals remain intact.