The ongoing strikes by the United States and Israel on Iran have kept the Hormuz Strait disruption in focus, intensifying selling pressure across crypto markets. With geopolitical risk elevated, investors are re-evaluating risk and pricing in a slower path to any near-term rebound.
Bitcoin was trading at 129,490,000 won on Bithumb, down 0.12% over 24 hours, and slid below 70,000 dollars to around 68,273 dollars. On Upbit, Bitcoin hovered around 126,600,000 won, with the Kimchi premium suggesting some support above the 100 million won level despite deteriorating global risk appetite. Major altcoins also fell in tandem, with Ethereum down 0.10%, Solana down 0.15%, and Ripple down 0.24%.
Bitcoin’s peak of roughly 126,000 dollars was reached in early October last year, but the market has since trended lower. Analysts warn that unless tensions in the Middle East ease, early rebound attempts may falter and the downturn could prolong.
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