The crypto rally ran into a wall on Friday as fresh headlines of potential escalation in the Iran conflict abruptly cooled risk appetite across markets.

Among the developments, the U.S. Central Command confirmed that all six crew members aboard a refueling aircraft that crashed in Iraq on Thursday had died.

Meanwhile, the Wall Street Journal reported that the Pentagon is deploying a Marine expeditionary unit (thought to be 2,500 troops) to the Middle East, including forces attached to the USS Tripoli, as Iran steps up attacks around the Strait of Hormuz.

Bitcoin, after rallying to near $74,000 earlier in the session, reversed sharply to $71,200 following the news, still holding onto 1.9% gain over the past 24 hours. Ethereum’s ether (ETH),…