The global cryptocurrency market shed nearly $70 billion on Saturday, falling more than 3% after the United States and Israel carried out military strikes on Iran, signaling a broad risk-off reaction among digital assets. Bitcoin, the largest cryptocurrency by market capitalization, slid toward $63,000, down about 3.5% within hours of the strikes and extending its daily loss to 6.3%. As a result, losses across the broader market approached 6%, bringing total capitalization down to $2.2 trillion.
Ethereum traded at $1,858.51, down 8.75% on the day, while XRP fell 8.76% and Solana dropped 10.59%. In contrast, as demand for safe-haven assets picked up, Tether Gold and Pax Gold extended gains beyond 3%, trading at $5,329.05 and $5,397.02, respectively.
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