Bitcoin drops as U.S., Iran airstrikes sink risk appetite across markets

Crypto markets fell Wednesday after fresh airstrikes in Iran spurred a risk-off mood among investors. The CoinDesk 20 Index dropped 2.9% since midnight UTC, with all but one token declining.

Addressing NATO leaders, U.S. President Donald Trump declared the ceasefire "over" and said negotiating with Iran is a "waste of time," though talks continue, according to news reports.

The U.S. Central Command said it hit more than 60 Islamic Revolutionary Guard Corps small boats to prevent them disrupting international shipping and Iran retaliated with attacks on Kuwait and Bahrain.

The Dollar Index (DXY) rose as the reignited tensions are likely to stoke inflation concerns. Bitcoin BTC $ 61,725.22 and ether (ETH), the two largest cryptocurrencies, fell more than 2%.

There were sharper losses across the more illiquid altcoin sector as JUP, ETHFI and PUMP all losing more than 5%.

U.S. equities also took a hit. Nasdaq 100 index futures and S&P 500 index futures tumbled as much as 1.5%.

Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.

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