Bitcoin price today: slides to $104k as Israel-Iran conflict spurs risk-off mood

Investing.com-- Bitcoin prices tumbled on Friday as escalating tensions in the Middle East, following Israel’s large-scale airstrikes on Iranian nuclear and military facilities, triggered a broad flight from risk assets.

The world’s largest cryptocurrency fell 3.6% to $104,070.20 as of 02:14 ET (06:14 GMT).

Crypto hit by risk-off sentiment as Israel attacks Iran

Israel launched “Operation Rising Lion,” targeting dozens of Iranian facilities, including uranium enrichment sites in Natanz, missile production plants, and command centers in Tehran, to pre-empt Tehran’s nuclear ambitions

Explosions reverberated across Tehran, triggering state emergency measures in Israel and activating Iran’s air-defense systems.

Iran vowed harsh retaliation, warning of a response that could threaten regional stability.

Israeli Prime Minister Benjamin Netanyahu stated in a recorded video that the military campaign would continue "for as many days as it takes to remove this threat," urging citizens to brace for a potential Iranian response.

The Middle East escalation triggered a flight to safety across asset classes. Traditional havens like gold, the U.S. dollar, Japanese yen, Swiss franc, and Treasuries surged, while cryptocurrencies, viewed as risk-sensitive assets, fell sharply

Institutional caution during unstable political periods was amplified by the looming U.S. central bank rate decision, due next week.

The Fed is expected to keep rates unchanged, with markets pricing in potential rate cuts later this year.

Traders will be watching Iran’s response closely, including possible disruptions at the Strait of Hormuz. Until geopolitical clarity improves, the crypto sector may stay tethered to global risk sentiment.

Crypto price today: most altcoins slip over 10% amid broader sell-off

Most altcoins also nursed steep losses, tracking losses in the biggest cryptocurrency amid a broader risk-off mood.

World no.2 crypto Ethereum slumped 9.8% to $2,497.82.

World no. 3 crypto XRP slid 8% to $2.0988.

Solana plunged 10.4%, while Cardano also declined nearly 10%, and Polygon slipped 10.4%.

Among meme tokens, Dogecoin tumbled 10%, while $TRUMP lost 6.5%.