Cryptocurrencies Under Pressure as Iran Strikes Stir Uncertainty

Cryptocurrencies are under pressure after US and Israeli attacks on Iran shook investor confidence over the weekend, leaving traders awaiting direction from traditional markets around the world.

Bitcoin traded erratically on Saturday after US-Israel strikes began early in the day. Prices initially slid, then firmed as rumors spread that Iran’s supreme leader Ayatollah Ali Khamenei had been killed. After Iranian officials confirmed his death, Bitcoin briefly touched $68,196 before reversing to about $65,300 by 4 p.m. Sunday in New York, down 2.1%. Ether also gave up earlier gains to trade 2.3% weaker at $1,912.

“The real price discovery happens Monday” ...