Crypto markets opened in the red on Saturday with Bitcoin down 2.3% at the time of writing, as per CoinDesk, amid US-Iran tensions.
Experts have weighed in on the crash, citing the persistence of extreme fear and defensive positioning in the market.
One analyst tied the crypto crash to President Donald Trump's recent announcement about the Strait of Hormuz, saying 'This Crypto Crash is NOT random. This is geopolitics hitting markets in real time.'
Another investor on X wrote 'Threaten to OBLITERATE Iran and watch crypto crash. What could this possibly mean for the market on Monday?'
Traders are weighing whether higher oil prices will push up inflation or stall growth, with Bitcoin sitting in the crossfire.
Bitcoin has been relatively calm compared to other assets, with its price up roughly 7% in March.
