The broader cryptocurrency market is down $2.45 trillion on Thursday, from $2.54 trillion the previous day, led by Bitcoin’s (BTC) decline below $73,000. The pullback aligns with over $800 million in outflows from Bitcoin and Ethereum (ETH) Exchange-Traded Funds (ETFs) on Thursday, as the market prices in the risk of a US-Iran war escalation. 

Iran’s “decisive response” triggers crypto market sell-off

Iran’s Islamic Revolutionary Guard Corps (IRGC) targeted a US airbase, likely in Kuwait, in response to an attack near the Bandar Abbas airport. The IRGC further warned that “any further US attacks would trigger ‘a more decisive‘ response,” adding that “Washington bears responsibility for the consequences.”

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