The crypto sector experienced an outbreak of volatility and trading bloodshed leading up to the weekly closing following the announcement that Israel carried out attacks on Iran. On February 28, 2026, the overall market capitalization of digital assets lost around 70 billion in one hour as news of the geopolitical escalation surfaced.
🚨 Markets chose violence into the weekly close after Israel launched strikes on Iran.$BTC slipped below $64,000 as the entire market bled red. pic.twitter.com/svCyHcciRG
— CryptoRank.io (@CryptoRank_io) February 28, 2026
The market leader, Bitcoin, fell below the $64,000 and the whole industry “bled red” in the immediate reaction to the rising tensions.
As the traditional markets were…
