Crypto Market Falls 2% as US-Iran Tensions Re-ignite Selloffs

The total cryptocurrency market capitalisation fell by approximately 2% to $2.14 trillion on Wednesday due to heightened tensions between the United States and Iran.

The crypto market is experiencing a rush of selling as investors begin to take early exits from top digital assets amid geopolitical tensions triggered by Washington and Iran.

Bitcoin dropped to $62,000, while Ethereum decreased by 0.77% to $1,760.

Other leading cryptocurrencies are also struggling as investor sentiment shifts to a risk-off approach. All market sectors declined, with the DeFi sector experiencing the largest drop at 9%, while other sectors saw losses ranging from 1% to 7%.

The U.S. has approved…