Bitcoin Tumbles, Oil Surges As Israel Vows Revenge For Iran Missile Attack, Dampening Uptober Optimism
Bitcoin slumped and oil prices surged as Israel vowed to make Iran pay for a missile attack, dampening Uptober optimism amid escalating hostilities in the Middle East.
BTC tumbled more than 3% in the past 24 hours to trade at $61,672.54 as of 2:40 a.m. EST as the overall crypto market plunged 4.2% to a market capitalization of $2.17 trillion, according to CoinMarketCap.
Israeli Prime Minister Says Iran “Will Pay” For Missile Attack
Iran fired about 200 ballistic missiles at Israel yesterday at around 7:30 p.m. local time, just hours after the US warned of an impending attack. Many of the missiles were intercepted, according to Israel’s Defense Forces.
“Iran made a big mistake tonight, and it will pay for it,” said Prime Minister Benjamin Netanyahu during a meeting with his security cabinet. In the following hours, the Israeli Defense Forces launched a counter strike against Hezbollah targets in Lebanon.
The price of oil surged over 5% amid concerns over supply disruptions. Gold prices also rose 1.4% yesterday to reach $2,665 per ounce as investors retreated to the financial safe haven amid escalating tensions in the Middle East. The price of Gold has since undergone a slight correction to stand at $2,648.76.
Uptober Optimism Takes A Hit
October has historically been a bullish month for the crypto market. Favorable macroeconomic conditions and the positive September close by Bitcoin this year had elevated market optimism, with several analysts forecasting that cryptos would perform well in the final months of the year.
Over the past 24 hours, however, bulls took a knock. In addition to BTC’s 3% fall, altcoin leader Ethereum (ETH) saw its price plunge over 6%, while the rest of the top 10 cryptos all suffered losses.
Related Articles:
- Pepe Unchained ICO Blasts Past $16.5M Amid L2 Sneak Peek And Whale FOMO
- Top Meme Coins To Invest In Today, October 1 – SPX6900, Bone Shibaswap, Non Playable Coin
- US Spot Bitcoin ETFs Extend Net Inflow Streak To 8 Days With Another $61.3 Million On Monday As BlackRock Leads
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Whale Sells $5.48M in TRUMP Token, Gains $483K
A crypto whale offloaded 630,339 TRUMP tokens for $5.48M, pocketing nearly $483K in profit at $8.70 per token.Whale Exits TRUMP Token with Nearly Half a Million in ProfitSmart Profit-Taking or Early Exit?Whale Moves as a Market Signal

Buy Low, Fly High: Arctic Pablo at $0.000099 Eyes $0.008 Surge, While Fwog And Pudgy Penguins Push Boundaries
Explore Arctic Pablo Coin's presale, Pudgy Penguins' gaming expansion, and Fwog's market trends. Discover the Top New Meme Coins to Invest in April 2025.Arctic Pablo Coin (APC): Staking and RewardsArctic Pablo Coin (APC): Presale Reaches Frostbite CityPudgy Penguins: Expanding into Mobile GamingFwog: Gaining Momentum in the Meme Coin MarketWrapping Up: Arctic Pablo Coin (APC) Stands OutFor More Information:

Australian Court Overturns License Ruling Against Block Earner, Sides with Fintech in Landmark Crypto Case
In a significant legal win for Australia’s crypto and fintech industry, the Federal Court has overturned a previous ruling that required digital finance firm Block Earner to obtain a financial services license for its discontinued fixed-yield crypto product.

Symbiotic Raises $29 Million to Build Universal Staking Coordination Layer
Symbiotic, a decentralised finance (DeFi) protocol, has secured $29 million in a funding round led by Paradigm and cyber.Fund.

Trending news
MoreCrypto prices
More








