Cryptocurrency Market Declines Further Amid Geopolitical Tensions

The cryptocurrency market continues to suffer losses due to recent geopolitical pressures in the Middle East, particularly the conflict between Iran and the United States.

The recent conflict has prompted investors to withdraw further from the markets and pull funds away, negatively impacting popular cryptocurrencies. Bitcoin has seen a further decline of more than 1.3%, while Ethereum has experienced a sharp drop of more than 3.1%. Dogecoin has also recorded significant losses of more than 6% in the past few hours.

Bitcoin is currently trading near $68,700, with expectations of a rise to $78,100.

Ethereum is trading near $1,979, with expectations of an upward move if it closes above the resistance level near $2,148, targeting $2,450.

Furthermore, if events in the Middle East develop and the current war escalates, cryptocurrencies may continue to decline, as investors are expected to target safe-haven currencies and move away from risk.