Bitcoin experienced a significant decline, falling below $100,000 for the first time in over a month due in part to U.S. airstrikes on Iranian nuclear sites. Following the strikes, the total cryptocurrency market fell by about 7%, with Ether suffering an even greater loss. This decline comes on the heels of Bitcoin's previously strong performance, particularly after Trump's election. Despite initial enthusiasm for a pro-crypto administration, Bitcoin has faced volatility tied to broader financial market trends and geopolitical tensions.
The selloff happened just hours after the U.S. bombed three key nuclear sites in Iran on Saturday. The total crypto market has tanked about 7% over the past day.
Bitcoin's recent plummet below the psychologically important threshold of $100,000 follows a year of gains for the cryptocurrency. After Trump won the 2024 presidential election, it soared.
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