TradingKey – US-Iran skirmish triggers crypto market decline; Bitcoin briefly dips below $80,000, with a potential short-term correction to $75,000.

On May 8 (GMT+8), affected by the reignited conflict in the Middle East, the crypto market reversed its gains, with major coins generally trending downward. Among them, Bitcoin ( BTC) fell over 1%, breaking below the key $80,000 level; Ethereum ( ETH) dropped nearly 2%, piercing $2,300; Ripple ( XRP) slid more than 2%, losing the $1.4 level; Dogecoin ( DOGE) tumbled 4%, retreating to near the $1 mark.

Price performance of the top 10 cryptocurrencies by market cap, source: CoinMarketCap

Yesterday, renewed clashes between the U.S. and Iran reignited tensions in a previously stabilizing situation….