Key Insights:
- Crypto market drops to $2.29T, down 46% from October 2025 highs.
- Bitcoin, Ethereum, and XRP face sharp daily, weekly, and monthly declines.
- Middle East tensions rise as Saudi Arabia and Israel plan stronger actions against Iran.
As the US-Iran war enters its second month, the crypto market is once again feeling the strain. Amid rising geopolitical tensions, major cryptocurrencies have taken a hit, with prices falling significantly.
What began as a sudden shock from escalating tensions has now turned into sustained volatility. This underscores how sensitive digital assets have become to global events far.
Crypto Market Slips Today
Currently, the crypto market is under sustained pressure as the US-Iran war shows no signs of an imminent end. According to CoinMarketCap data, the industry plummeted by nearly 3% in a day, reaching $2.29 trillion.
This fall is more concerning considering its decline from its all-time high of $4.28 trillion in October 2025. Within five months, the market has fallen by a staggering $1.99 trillion, marking a 46% drop.
The overall bearish trend is also shown through the main cryptocurrencies like Bitcoin, Ethereum, and XRP. The US-Iran conflict also leads to the downfall of other major altcoins.
BTC is currently trading at $66,195, down 3.6% today. The coin has also seen a 6.3% plunge over the past week and a 3% decline over the past month. As trading volume has surged by 13% to $44 billion, this indicates that the current downtrend is largely driven by growing selling pressure.
Ethereum is also in the red zone, trading at $1,988. The altcoin has plunged by 3.3% in a day, 7.6% in a week, and 3.4% in a month. At the same time, XRP is trading at $1.33, down 2%. It has seen more notable drops of 7.5^% and 7.6% over the past week and month, respectively.
US-Iran War Enters Second Month, Triggering Crypto Market Fluctuations
The ongoing US-Iran conflict serves as the main cause for present-day fluctuations in the crypto market. The conflict began when US and Israeli forces conducted their initial attacks against Iran during February’s final days. The situation has now entered its second month without any indications of reaching a conclusion.
The initial military dispute has developed into a major regional conflict, which involves missile and drone attacks, interrupting vital shipping routes, including the Strait of Hormuz. It has also caused a significant increase in international energy costs. All of these have kept global crypto markets on edge.
Saudi Arabia to Join the US
Amid escalating Middle East Pressures, Saudi Arabia is expressing support for the US. The Middle Eastern country is reportedly urging the United States to step up its attacks on Iran. The country is also considering whether to join the conflict directly.
As per the latest reports, Crown Prince Mohammed bin Salman sees the US-Iran war as a “historic opportunity” to reshape the Middle East. Thus, the prince needs the US to continue its military campaign. Mohammed Alhamed, a Saudi geopolitical analyst, stated that Iran’s decision is critical. He added,
“If Iran engages seriously, there is still a path to contain escalation. If it rejects the conditions and continues its attacks, the threshold for Saudi action will be crossed.”
Israel to Intensify Attacks
Meanwhile, Israel’s Defense Minister, Israel Katz, announced that the country will intensify military strikes against Iran in the coming days. He said this escalation is in response to continued Iranian missile attacks on Israeli civilian areas, which Israel says Tehran has failed to stop despite repeated warnings.
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