US Airstrikes on Iran Hit Crypto: Some Altcoins Decline More Than 3%

Solana and Tron declined more than 3% while Bitcoin fell approximately 1% in a global risk sell-off following US airstrikes on Iran.

Selling pressure was observed in risky assets, primarily cryptocurrencies, during Asian trading. According to CoinDesk data, while the Bitcoin price traded around $77,500, Solana (SOL) pulled back to approximately $100, and Tron (TRX) fell to the $0.32 level.

The sell-off was not evenly distributed across cryptocurrencies. SOL and TRX lost more than 3% of their value, while Ethereum dropped approximately 2% to stay above $2,414, and XRP remained above $1.35 with a loss of nearly 2%. Dogecoin fell about 2%. Meanwhile, BNB showed a more resilient outlook among major assets, dropping by less than 1%.

Oil and Interest Rate Expectations Pressure Crypto

At the center of the move was the rise in oil prices and bond yields, rather than a development specific to the cryptocurrency market. The price of Brent oil per barrel rose above $95, while the US 10-year Treasury yield reached approximately a three-year high of 4.81%. Sharp declines in Japanese and South Korean stock markets also indicated a deterioration in global risk appetite.

According to CME FedWatch data, the probability of the Fed raising interest rates at its September meeting rose from approximately 40% to 66% in one week. This expectation increased pressure, particularly on more volatile altcoins. All listed assets have risen in the last hour.

For the market’s direction, employment data to be released on Friday will be monitored. Inflation data is expected on September 11, the Clarity Act vote on September 15, and the Fed decision on September 16.